Moody's Threat of US Downgrade!

Terms like poverty had real meaning once upon a time like they did during the Dust bowl years. So called poor persons today living the High life. Spend the extra on a new tat. Instead of cutting the bennies to these bums our gov. starts to rob its workers. This is appeasment nothing else for an ignorant public while the rape of treasury goinng on unhindered.
 
Now we're having a conversation. A 2008 study led by Georgia State University economist Benjamin SWcafidi conservatively estimated that single mothers cost the U.S. taxpayer $112 billion every year. But in fact, Scafidi underestimated single mother's burden to society by excluding additional costs of single mothers to poverty programs such as EITC. Single mothers are six times more likely to be in poverty than married families. And guess who has destroyed the black american family. Oh, by the way 7x36=$252billion. 112x7=$784billion and if you just add them up you're over $1Trillion. Now if you take into account forced busing and spending on trash public schools it certainly adds up. And please don't forget the MIC and WIC programs that support illegitimacy.
 
James48843 said:
According to Wikipedia, the federal government spends on the order of $36 billion dollars on the Earned Income Tax Credit. Wiki also called the Earned Income Tax Credit "The EITC is the largest poverty reduction program in the United States. Almost 21 million American families received more than $36 billion in payments through the EITC in 2004."The EIC lifts millions of people out of poverty.
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You're funny. You believe everything you read. I translate that as 36 billion out of the pockets of the earners into the pockets of the takers. Soon to go up noses, inhaled, tatoos, etc. 36 billion Up In Smoke.
 
Birchtree said:
I wonder how much the government pays for their poverty program known as the Earned Income Tax Credit?
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According to Wikipedia, the federal government spends on the order of $36 billion dollars on the Earned Income Tax Credit. Wiki also called the Earned Income Tax Credit "The EITC is the largest poverty reduction program in the United States. Almost 21 million American families received more than $36 billion in payments through the EITC in 2004."

The EIC lifts millions of people out of poverty.
 
I wonder how much the government pays for their poverty program known as the Earned Income Tax Credit? If you have illegitimate children as a single mother you get an extra payment. If Obummer cuts spending he will lose the valuable minority free vote. Honestly, I wish we could get away from the propensity of licentious liberals and bring back the stigma of illegitimacy with shame.
 
malyla said:
Agreed. The debate is just public and political posturing. He has the mandate to make sure the country pays it's debts.
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I agree Malyla,

The Treasury has a mandate to pay its debt before paying anything else. You have to pay your mortgage or rent before you pay anything else - otherwise you end up outside. Governments must pay their debts or they cannot borrow. Very simple.

Our debt payment for August 2011 will be about $30 Billion. (Page 5, MTS August 2010 + this years estimated growth)

Our revenue has been growing this year. We should have about $180 Billion. (Estimate from above source and noting revenue growth of about $20 Billion/month)

Pay the debt with the first dollars, then prioritize and pay the rest.

Let the politics begin after we pay our debt. That is THE discussion that should be taking place. It might be of interest to the folks out there that we run August deficits under this President that EXCEED the cost of an entire year of our War on Terror (or Kinetic Whatever) effort.

Moody's and S&P will not downgrade debt that is being prompty paid. They will soon downgrade debt that grows beyond prompt payment. Anyone think running deficits of $100 Billion a month will last without massive increases in interest costs and a significant downgrade in credit worthyness.

Folks are only looking at part of what Moodys and S&P are saying.
 
clester said:
I've got a bad feeling the debt limit agreement won't happen. When both sides say " both sides agree we have to raise debt ceiling" , this is code for " we ain't going to do it"It's a game of chicken with all of us standing in the spot where the cars crash. I got a feeling no one will turn away.So, where is the best place for tsp funds in this case? G fund or F fund?
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The President will just raise the debt ceiling by Executive Order.
 
I've got a bad feeling the debt limit agreement won't happen. When both sides say " both sides agree we have to raise debt ceiling" , this is code for " we ain't going to do it"It's a game of chicken with all of us standing in the spot where the cars crash. I got a feeling no one will turn away.So, where is the best place for tsp funds in this case? G fund or F fund?
 
Why would anyone reduce the United States' debt rating?

I mean, we have been able to 'pay' our debt with more debt for years!!!

What could possably go wrong:p
 
Im threatening to downgrade my opinion of Moody's right now. There! I bet they are shaking in their boots.
 
would this swing the market up side or down side? was watching CNBC earlier and they say this would make the market bounce O_o
 
nnuut said:
GET OFF THE POT!:nuts:
Moody's Threat of US Downgrade Departure from S&P's Warning

By Elizabeth MacDonald
Published June 02, 2011
| FOXBusiness

Compare and contrast the downgrade threats from Moody's Investor] Services today with Standard & Poor's warning back in April and you'll see Moody's cites the debt ceiling fight in Washington, whereas S&P assiduously does not.
Why do I bring that up? Because it underlines the politically charged nature of a downgrade threat, which is bearish for the U.S. dollar. Citing the debt-ceiling fight puts pressure on DC negotiators to hammer out a deal. S&P was more sanguine that a deal would be reached, but it is more worried there is no credible plan to tackle the $14 trillion in debt, which is more than the entire Eurozone and is more than China and Japan combined.
Here's what Moody's said, emphasis mine:



Read more: http://www.foxbusiness.com/markets/...ade-departure-from-sps-warning/#ixzz1O9w54eTo
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What time today did this come out? If this is talked about in the media tmrw there could potentially be a reaction by the market. Tmrw could be very exciting day.:rolleyes:
 
nnuut

nnuut

Moderator | TSP Legend
GET OFF THE POT!:nuts:
Moody's Threat of US Downgrade Departure from S&P's Warning

By Elizabeth MacDonald
Published June 02, 2011
| FOXBusiness

Compare and contrast the downgrade threats from Moody's Investor] Services today with Standard & Poor's warning back in April and you'll see Moody's cites the debt ceiling fight in Washington, whereas S&P assiduously does not.
Why do I bring that up? Because it underlines the politically charged nature of a downgrade threat, which is bearish for the U.S. dollar. Citing the debt-ceiling fight puts pressure on DC negotiators to hammer out a deal. S&P was more sanguine that a deal would be reached, but it is more worried there is no credible plan to tackle the $14 trillion in debt, which is more than the entire Eurozone and is more than China and Japan combined.
Here's what Moody's said, emphasis mine:



Read more: http://www.foxbusiness.com/markets/...ade-departure-from-sps-warning/#ixzz1O9w54eTo
 
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