posted August 05, 2011 12:49 AM            

We heard how Tea Party congressional members were willing to blow up the US credit rating, destroy the stock markets and leave millions of Americans penniless as their stocks, mutual funds and other financial instruments plummeted in value.

So, Monday night, August 1st, the House passed an increase in the US debt limit with about half of Tea Party members voting aye.

Then, about noon Tuesday, August 2nd, the Senate voted on and passed the debt limit increase.

The US was saved, the world was saved, citizens wouldn't become penniless by a collapse of the stock markets. YEA!!!

But, this is the history of the recent decline of the stock markets.

7/25 Down 89
7/26 Down 91
7/27 Down 199
7/28 Down 62
7/29 Down 97
8/01 Down 11
8/02 Down 266
8/03 Up 30
8/04 Down 513

That's right! On the very day the world was saved from Tea Party Terrorists, the stock market went DOWN 266 points.

So, it sure as hell wasn't Tea Party Terrorists who were making the stock market take a dive and lose all those hundreds of billions for American citizens.

And, with the deal voted on and firmly in place, the stock market took another dive today..DOWN 513 points.

Anyone who's still paying attention to anything O'Bomber, his Socialist congressional comrades and his political activists and propaganda artists in the press say...need your heads examined.

posted August 05, 2011 07:18 PM            

but today it has rallied somewhat to end that losing streak.

and the tea party is doing a great job of shooting itself in the foot, no screeching needed really!
http://news.yahoo.com/blogs/ticket/views-congress-tea-party-reach-low-poll-135728798.html

you see, jwhop, though a lot of dems, centrists and indies agree with a portion of the tea party rhetoric, when it comes to governing, there is a little more required than the word "NO" and calling the president a tarbaby...

so keep it up my friend, and though you aren't hearing much about it the dems are working at reforming their side of the aisle too...watch these pages.

posted August 07, 2011 08:32 AM            

On the other hand, it could be that you've carried your definitions debacle to a new level.

The Dow Jones Industrial Average can rise and/or fall hundreds of points in 10 minutes or less.

The opening post on this thread said the US Senate passed the debt ceiling bill at about NOON on Tuesday. For those in Rio Stupido, that's about 12:00 pm.

The NY Stock Exchange closes at 4:00 pm.

4 hours of trading in a fast moving environment is an eternity. So, a loss of
266 points on the very day the Senate voted to raise the debt limit simply means the traders digested the new information, didn't like it and sold the market off.

Traders and investors liked what O'Bomber had to say afterward even less. "I will continue to push for "increased revenues".
Traders and investors know that "increase revenues" are demoscat Socialist code words for "RAISE TAXES", even if residents of Rio Stupido don't.

posted August 07, 2011 09:31 AM            

I am heartily sick of our supposed *news* outlets giving rogue repubs, and corporate shills the microphone, repeating over and over again a reality that does not exist.

right now 15% of americans think congress is doing a good job, and I thought it's that high??

What the rebubs and their media are very good at is repeating lies over and over again till it becomes part of our consciousness.

The reason the street lost stability was due to anxiety. If the street is anxious imagine what the rest of the country is feeling after the latest hostage crisis of our American government. Is this terrorism? No, we can thank 10 years of media repeating that word over and over again till it spills out the lips with regularity. I refuse to use it.

I do agree with the meme of a hostage situation. The debt ceiling was a created crisis we all know this. The only good that came of it, is that we will not have to suffer through the like till 2013!!!

posted August 08, 2011 08:24 AM            

Businesses don't know what their tax structure is going to be...O'Bomber, raise taxes on the rich and corporations.

Businesses don't know what the cost of regulations is going to be. O'Bomber recently released a flood of new O'BomberRegulations which will cost businesses 10 Billion a year.

Businesses don't know what the cost of O'BomberCare is going to be...to them!

So, businesses are not hiring new employees because they don't know what those employees are going to cost them to hire. Businesses are not expanding operations or opening new facilities because they don't know what the cost of new O'BomberRegulation will be.

You've seen the face of "uncertainty". It's the same face as the 1st President to lose America's AAA credit rating.

Bad News Barry
08/08/2011
Daniel Flynn

Standard & Poor’s downgraded the federal government’s credit rating just three days after President Barack Obama​ signed legislation lifting the limitation on borrowing. Isn’t this what the president warned us would happen if we didn’t raise the debt ceiling?

The credit-rating agency explained that “the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.” S&P sees “America’s governance and policymaking becoming less stable, less effective, and less predictable.”

Put another way, S&P saw in the world’s oldest republic a resemblance to a banana republic. Americans used to bombastically chant “We’re number one.” Obama has reduced us to: “We’re not Greece.”

Far from the draconian cuts imagined by Democrats, S&P noted the legislation’s “relatively modest savings on discretionary spending,” that “Congress and the Administration could modify any agreement in the future,” and that the deal essentially punted on entitlements. “Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a ‘AAA’ rating,” Friday night’s bombshell report contended.

S&P didn’t drink Obama’s Kool Aid. He insisted that restraints on borrowing, rather than borrowing atop borrowing, would damage America’s credit. A credit downgrade means the cost of the federal government’s spending addiction has become costlier. But junkies gladly pay—especially when the money isn’t theirs.

The unprecedented credit downgrade alone makes these historically terrible days for the republic. But with Bad News Barry, the worst rapidly becomes merely “bad” as one travesty surpasses the last. Last week’s succession of horrible news demonstrates this.

Washington announced that consumer spending had declined .2 percent for June, the biggest drop in almost two years. GDP growth seems to be constantly revised downward, with the economy growing by .4 percent and 1.3 percent for 2011’s first two quarters. Unemployment scorns “hope” and “change” by stubbornly remaining above nine percent.

The stock market endured its worst week in almost three years. In one frightening fortnight, the Dow Jones lost ten percent of its value. That’s not a slump. That’s a correction. Who knows whether investor reactions to S&P’s downgrade will make it a bear market?

And last week, for the first time since the Second World War​, the debt reached parity with the annual economic output. To loosely paraphrase the sharp-tongued Obamanista Christina Romer, “Fe’re wucked.”

Don’t blame the bad news on Bad News Barry. It’s not his fault. Even he says so.

In his weekly address delivered on Saturday, the president blamed our woes on “the Japanese earthquake and tsunami’s effect on supply chains,” “the Arab Spring’s effect on oil and gas prices,” and “the economic situation in Europe.” When it’s not the responsibility of his presidential predecessor, it’s the fault of his congressional adversaries. Blame corporations for hoarding money. Blame employers for not hiring. Blame the rich for not paying their “fair share.” Just don’t blame Obama.

Acknowledging mistakes is a necessary precursor to correcting them. People who don’t fess up to errors commit more of them. The irony here is that a thin-skinned president who has no capacity for self-criticism will wind up enduring more criticism because of his phobia of it. Hubris matters.

Fanaticism matters, too. The president’s supporters are so emotionally invested in his success that they appear unable to consider his central role in America’s failures. Obama has become so integral a part of their identities that conceding his errors becomes almost self-renunciation.

Because they don’t admit any mistakes, the arrogant president and his zealous followers cannot learn from them. With a little humility and moderation, they could glean many important lessons from this failed presidency.

Spending spreads existing money around; it doesn’t grow the economy. Rewarding failure through bailouts and punishing success through taxation is a recipe for disaster. The growth of the government economy has come at the expense of the private economy. Regulatory micromanaging of business puts businesses out of business. Creditors notice when you incontinently spend money you don’t have.

We can’t hope for the president to change. We can hope to change the president.
http://www.humanevents.com/article.php?id=45371

posted August 08, 2011 11:44 AM            

seeing as things were getting better before the new congress came in, and have gotten worse since their arrival ... shall we apply the same criteria to this administration as we do to others and give CONGRESS the credit for messing things up that you were claiming was the dems fault a few months ago?

the weak job gains of late have been largely due to the fact that GOVERNMENT JOBs have been cut and cut again to satisfy the anti-government crowd...who don't seem to realize that those jobs keep people in their homes and in the supermarket and the stock market too.

posted August 08, 2011 12:44 PM            

The true unemployment rate in America is above 17%. The only reason the unemployment number is currently 9.1% is because hundreds of thousands of unemployed quit looking for work and dropped off the recorded rolls of the unemployed in July.

So, if O'Bomber created all those JOBS, how come the number of employed Americans is lower now than it was in January 2009 when Bush left office?

Number of employed when Bush left office
January 2009...Total Employment: 142,099,000

http://econoindicators.com/2009/02/employment-situation-january-2009/

Number of employed under O'Bomber 2 and a half years later
May 2011...139,779,000
June 2011...139,334,000
July 2011...139,296,000

http://www.bls.gov/news.release/empsit.a.htm

posted August 08, 2011 04:43 PM            

O'Bomber was playing the blame game again. Everyone was responsible for the debt, the jobless rate and the loss of America's AAA bond rating; everyone but him..of course. Oh, and O'Bomber is still talking about raising taxes. Wonderful! We were all inspired!

The Dow Jones Industrial Average plunged 634.76 points, or 5.55 percent, to finish at 10,809.85, well-below the psychologically-significant 11,000 mark. The move marks the blue-chip index's biggest point and percent drop since Dec. 1, 2008.
http://www.cnbc.com/id/44058141

posted August 08, 2011 04:43 PM            

quote:

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seeing as things were getting better before the new congress came in, and have gotten worse since their arrival ... shall we apply the same criteria to this administration as we do to others and give CONGRESS the credit for messing things up that you were claiming was the dems fault a few months ago?

---

posted August 08, 2011 04:48 PM            

Yep, that escaped my notice. I must have slept right through it.

posted August 11, 2011 11:02 AM            

seems "THE PEOPLE" are still very divided in their views as to what should be done, and who is to blame for our current mess. and despite howls and soapboxing to the contrary, a significant number believe TAXING THE VERY RICH more on the TOP BRACKET is preferable to not raising revenue but using "cuts only" to bring down the debt and create jobs.

it also seems that obama's approval rating and the general government's DISapproval rating are not quite as bad as during bush's term...

posted August 11, 2011 11:04 AM            

seems "THE PEOPLE" are still very divided in their views as to what should be done, and who is to blame for our current mess. and despite howls and soapboxing to the contrary, a significant number believe TAXING THE VERY RICH more on the TOP BRACKET is preferable to not raising revenue but using "cuts only" to bring down the debt and create jobs.

it also seems that obama's approval rating and the general government's DISapproval rating are not quite as bad as during bush's term...

posted August 12, 2011 02:29 PM            

A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.

“That a country even has such voices, albeit a minority, is something notable,” he added. “This kind of rhetoric is not common amongst AAA sovereigns.”

The statement seems likely to bolster one Democratic line of attack, that it was tea party intransigence — not a shortcoming of leadership by President Barack Obama — that is to blame for the U.S. downgrade, from AAA to AA+. Obama himself called on Republicans to “put country ahead of party” Thursday — a dig at conservatives in Congress who are blocking his agenda.

posted August 13, 2011 01:16 PM            

That's right, Mukherji didn't mention Republicans because it wasn't Republicans who were screeching about a default on US Bond obligations. It was demoscats.

O'Bomber
Tax Cheat Timmy Geithner
Shyster Schumer
Dick Dustbin
Nancy Pee-lousy
Hairy Reid

Now, if you can find a Republican member of Congress or a Republican presidential candidate who was talking up defaulting on America's debt obligations...POST IT RIGHT HERE.

In fact, it was Republicans who said America WOULD NOT DEFAULT.

As I've told you before acoustic; you're a full bubble off plumb.

You, O'Bomber, the O'Bomber lap dog press and leftists in general have attempted to connect dots which don't connect.

Refusing to raise the US debt limit does not equate to defaulting on America's debt.

Interest on the National Debt runs approximately $30B per month.

Tax revenues amount to almost $200B per month.

So, demoscat arguments are dead bang losers....the usual.

When O'Bomber blew up the talks to raise the debt limit with John Boehner he also blew the chances to avoid a US Bond downgrade.

When Hairy Reid tabled the Paul Ryan budget passed by the House of Representatives and O'Bomber threatened to veto that budget, they blew up the chances to avoid a US Bond downgrade.

When Hairy Reid tabled the Cut, Cap and Balance House passed legislation and O'Bomber threatened to veto that legislation, they blew up the chances to avoid a US Bond downgrade.

Any one of those plans would have avoided a US Bond downgrade.

demoscats blew them all up and opted for a phony spending reduction which didn't reduce spending and in fact, INCREASED government spending by more than $7 Trillion, 42% of which would be borrowed money.

posted August 15, 2011 01:36 PM            

You're going to say there's no spin that can save Democrats whilst you've just spun your own Republican justification for this debacle?

A non-spin response to this would include that Congress had to send to the President something the President was willing to sign. Did Republicans handle that job responsibly? Nope. At every turn Republicans showed difficulty in doing their job. They took so long, in fact, that Obama was forced to sign what was still an irresponsible bill lest he be the reason for the default.

posted August 15, 2011 01:53 PM            

Where do you get these loony-tunes ideas about the Constitutional workings of the federal government?

Congress is under no obligation whatsoever to even consider a president's wishes on legislation.

Congress makes the laws. Presidents implement those laws.

Further, what I said is true. O'Bomber and demoscats blew up at least 3 chances to avoid a US Bond downgrade by rating agencies.

posted August 15, 2011 02:00 PM            

quote:

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Congress doesn't HAVE TO SEND LEGISLATION TO O'BOMBER THAT HE WILL SIGN.

Where do you get these loony-tunes ideas about the Constitutional workings of the federal government?

---

Oh, quit it already. You know as well as anyone that this is what HAS to happen in practicality to get situations like this resolved. Congress holds the purse strings as you well know. They raise the debt ceiling. It was ON THEM to do something, which they dragged their feet on. Really.

quote:

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Congress is under no obligation whatsoever to even consider a president's wishes on legislation.

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Oh course they're not, Jwhop. They only have to do so if they wish to have their stuff signed into law. Why are you always trying to relieve your arguments from the practical reality of the situations we're talking about?

quote:

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Further, what I said is true. O'Bomber and demoscats blew up at least 3 chances to avoid a US Bond downgrade by rating agencies.

---

The most prominent amongst them being losing their seats in the House.

quote:

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It's time for O'Bomber and his congressional comrades to man up and stop trying to blame every one under the sun for their screw-up...except themselves.

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posted August 15, 2011 05:38 PM            

House Republicans sent up 3 good plans to the US Senate which were rejected. O'Bomber threatened to veto them if the Senate passed them. O'Bomber blew up the talks with John Boehner by demanding a 50% increase in taxes over what had already been agreed to.

No one and I mean NO ONE has yet seen the O'Bomber plan. No one, and I mean NO ONE has seen a budget out of the US Senate for more than 2 years...in spite of a statutory requirement a budget be passed every single year by April 15th.

O'Bomber and his congressional Socialist pals are the cause of the US Bond downgrade.

Let me repeat. Congress has no obligation to send legislation to O'Bomber that he will sign. As of now, O'Bomber has Hairy Reid running interference for him by screening legislation and refusing to vote on what O'Bomber tells him to not pass.

posted August 15, 2011 07:31 PM            

quote:

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House Republicans sent up 3 good plans to the US Senate which were rejected.

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Opinion. Opinion that was REJECTED by the Senate. How can one say that three good plans were offered when none of them were good enough to pass the Senate? That would make three poor plans.

quote:

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O'Bomber blew up the talks with John Boehner by demanding a 50% increase in taxes over what had already been agreed to.

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You're saying that as if Obama were being unreasonable. What is truly unreasonable is the record low taxes being collected at present.

quote:

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No one and I mean NO ONE has yet seen the O'Bomber plan.

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Obama's plan was to broker a deal that would be satisfactory; one that included revenue increases. He doesn't draft bills for Congress to sign off on, so that he can later sign off on them.

quote:

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O'Bomber and his congressional Socialist pals are the cause of the US Bond downgrade.

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100% false. Everyone knows it.

quote:

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Let me repeat. Congress has no obligation to send legislation to O'Bomber that he will sign.

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posted August 17, 2011 12:45 PM            

O'Bomber blew up the debt limit talks with John Boehner by first agreeing to $800B in revenue increases AND then reneging and demanding an additional $400B....after he heard back from the Loony-Tunes Socialists who are the base of the demoscat party. That's fact, not opinion.