View Single Post

Default 

November 7th, 2012, 20:07
Originally Posted by Thrasher View Post
That may be so, but the debt/deficit in and of itself didn't cause the downgrading, it was the politics of rightwing extremists unwilling to compromise that caused it. And apparently it may happen again:

http://www.latimes.com/business/mone…,6939564.story
Thrasher, you're wrong. I can't say it any plainer than that. No matter how many times you say that it was the politics of anyone (rightwing or not) that caused the downgrade, it wasn't.

The concern of the ratings agencies is that medium to long term growth of the debt, fueled by the deficit, will make servicing the debt in the future less likely to eventually impossible.

The only way you would be right is if the plan the left wing was touting would have addressed those concerns. It didn't. Neither did the right wings plan. No one's plan has adequately addressed the concerns about a future default.

The inability of ALL the politicians to find a solution is what caused the downgrade. Not whether or not we could make the next coupon or principal payments (we could and did). Neither side presented a plan that adequately addressed the concerns about the growth in the debt.

————————————————-

"Ya'll can go to HELL! I'm-a-goin' to TEXAS!"

- Davy Crockett
blatantninja is offline

blatantninja

blatantninja's Avatar
Resident Redneck Facist

#145

Join Date: Jan 2008
Location: NYC
Posts: 4,119