Daily Archives: August 5, 2011

S and P downgrades USA credit rating AA+

The credit rating agency said that it is cutting the country’s top AAA rating by one notch to AA-plus. The credit agency said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country’s debt situation.

A source familiar with the discussions said that the Obama administration feels the S&P’s analysis contained “deep and fundamental flaws.”

S&P said that in addition to the downgrade, it is issuing a negative outlook, meaning that there was a chance it will lower the rating further within the next two years. It said such a downgrade to AA would occur if the agency sees less reductions in spending than Congress and the administration have agreed to make,higher interest rates or new fiscal pressures during this period.

http://finance.yahoo.com/news/SampP-downgrades-US-credit-apf-2107320979.html

Earlier on Friday the DNC claimed victory for Obama in the debt deal:

Democrats won the debt ceiling fight and they have the poll numbers to prove it, says Patrick Gaspard, the former White House official now running the Democratic National Committee.

“This agreement was a stinging defeat for the Ryan/House Republican Budget approach,” read a memo signed by Gaspard, “and was also a thorough rejection of the GOP’s so called ‘Cut, Cap and Balance’ plan, which was simply the Tea Party version of the Ryan plan on steroids.”

Okay. They claim they won the debt ceiling fight, therefore they own it. 

They boast of their rejection of the Cut, Cap, and Balance plan, even though had it been adopted, the downgrade would have been avoided.

 “When the nation is downgraded, and markets crash, the American people now have someone to blame: Those senators that refused to take the opportunity presented by ‘Cut, Cap, and Balance’ to restore order to the nation’s fiscal house.” (Americans for Limited Government)

Cut, Cap, and Balance was passed by the House and went to the Senate on July 22, 2011, where it was promptly TABLED without debate or vote.  It could have been passed and signed into law, avoiding further delays and  the credit rating downgrade.

HOWEVER, HARRY REID HAD ALREADY DECLARED IT WOULD NOT PASS, WOULD NOT PASS, WOULD PASS AND OUR PRESIDENT SAID HE WOULD VETO IT IF IT PASSED. 

ttp://townhall.com/tipsheet/katiepavlich/2011/07/22/democratic_senate_kills_cut,_cap,_balance

Posted:  08.05.11 @ 9:55 p.m.   Updated:  08.06.11 @ 3:48 p.m.

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Obama focusing like laser beam on jobs – the eternal pivot (video)

Posted:  08.05.11 @ 8:28 p.m.

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What is the Infrastructure Bank? I think it’s Obama-speak for high speed rail

Every time Obama opens his mouth he mentions the Infrastructure Bank.  He’s been pushing it very hard, along with the all-important patent legislation.  So what is it?

Here’s a detailed explanation of it – (AKA slush fund.)

http://rbo2.com/2011/07/11/obamas-new-deal-scheme-for-an-infrastructure-bank/

He wants the Infrastructure Bank really, really bad.  I believe he wants to use it to get his HIGH SPEED RAIL.  That train is running round and round in his head.

He said in 2009 the following and he has not dropped it.  I think instead of saying high speed rail, he is using Infrastructure Bank or infrastructure and he mentions it every speech he makes.

The United States will seek to develop high-speed rail nationally, President Barack Obama said on Thursday in emphasizing a broader commitment to U.S. infrastructure investment…..http://www.reuters.com/article/2009/04/16/us-obama-rail-idUSTRE53F4DJ20090416

 He has praised China for their high speed rail.  In fact, he is envious of them and the fact they don’t have to bother with congress and annoying little details like that.

Sidebar:

China’s vaunted high-speed rail system is under new scrutiny in the wake of a July 23 train crash that killed 40 people and injured nearly 200 more. The crash followed reports of increasingly-serious concerns about corruption, shoddy construction, and safety risks on the rapidly-expanding system. Now, Chinese officials are scrambling to contain public outrage, and the government has declared a media blackout on the tragedy.  http://www.tnr.com/blog/the-study/93089/chinas-high-speed-rail-disaster-and-the-limits-censorship

Posted:  08.05.11 @ 2:54 p.m.

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Filed under Barack Obama, Financial Crisis, politics, President Barack Obama, Uncategorized

Nancy has “Secret Plan” to combat GOP

(NRO)  No it has nothing to do with al-Qaeda, but House Minority Leader Nancy Pelosi (D., Calif.) told a group of liberal bloggers Thursday that she has super-secret plan to combat the GOP’s “hostage-taking” mentality and prevent a repeat of the debt limit debate, during which Republicans got basically everything they wanted by “acting like terrorists”

…..

“Expect us to be more visible in terms of what we say here and how we mobilize out side to make sure the Republicans know the risk of taking us to the brink,” she added, when asked to provide more details. “It’s to make it a completely unacceptable place for the Republicans to go because it will have public consequence.”

Watch for it.  Whatever devious plan she has concocted in her little demon brain, it will probably come by way of the corrupt liberal media.

http://weaselzippers.us/2011/08/04/nancy-pelosi-tells-liberal-bloggers-she-has-a-secret-plan-to-thwart-hostage-taking-republican-terrorists/

Posted:  08.05.11 @ 12:02 p.m.

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Fannie Mae wants more money – again

As they dance barefoot in the Rose Garden

Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as a weaker housing market causes continued losses on loans made prior to 2009.

Sounds a whole lot like what they said in March of 2009:

“Fannie Mae said it submitted a request Wednesday for 15.2 billion dollars from the Treasury “in order to eliminate our net worth deficit as of December 31, 2008.”

http://www.cnbc.com/id/44032122/

https://bellalu0.wordpress.com/2009/03/01/fannie-mae-wants-more-money/

Fannie is a pig.

Posted:  08.05.11 @ 10:56 a.m.

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Filed under Barack Obama, Financial Crisis, politics, President Barack Obama, Uncategorized