Politics and Money

[SOROS]

Do you have any clue why the first downgrade came in 2011? And this downgrade will also have everything to do with this psychopath gov't wanting a free pass to keep printing money and spending more than they take in. It has nothing to do with the gridlock and a "gov't shutdown." What a joke the MSM pushes on the fools.

Read this from 2011, and see how this guy's optimism that the 2011 downgrade might actually force DC to do the right thing and stop living on borrowed money while stifling free enterprise with increasing taxation.

http://www.forbes.com/sites/fredsmith/2011/08/17/debt-downgrade-why-did-it-take-sp-so-long/

Here's the cause:

There’s much, of course, to critique in the S&P’s downgrade decision. The firm’s analysts focus too little attention on how current regulatory policy that slows entrepreneurial growth has exacerbated the crisis. Moreover, they are too quick to accept the Washington mantra that higher taxes would help — rather than focus on comprehensive reform of our 2.1 million word tax code (less social engineering in the tax code, lower overall rates). And the special powers granted to the established credit ratings firms by the SEC and other financial regulators have embedded their ratings in capital requirements for a host of financial institutions, causing a downgrade to be more damaging than it should be.

Still, S&P realizes it must provide reliable information on how it sees America’s financial issues if its reputation is to survive. What it sees isn’t pretty: a nation with slow growth, crippling regulations, burdensome tax policies and ever-expanding entitlement and other spending programs. On top of that we have a budget deal that only addresses these problems at the margins, a Republican House reluctant to take on politically sensitive entitlement reform, a Democratic Senate unwilling even to discuss such reform, and a president running for re-election on a soak-the-rich platform.

And here's the dashed hopes, after more years of Barry the printing president (twin of shrub):

For that reason, the S&P downgrade offers actual hope. As the economist Herbert Stein famously noted: ”If something cannot go on forever, it will stop.” The current pace of government growth cannot go on forever. The welfare-regulatory state is unsustainable. It promises far more than economic growth makes possible, while its tax, regulatory, and other disincentives to wealth creation make that growth increasingly anemic.

So it will stop. In effect, our political system is now molten rather than broken—it will take a new shape. That presents an opportunity to help shape a re-born America, one that returns to the limited government constitutional ideals that made our nation viable and prosperous. The other option is a future of stagnation, increased poverty, and diminished freedom—things politicians all profess to hate, even as they promote policies that would help bring them about.