Bush Tax Cuts Caused S&P U.S. Debt Downgrade

Ever since the GOP took ideas from the confederacy.

 

I do not consider those options to be "modest" cuts and tax hikes. I think they are naive and unrealistic.

See how your definition of "modest" differs from mine? See how the term "modest cuts" is a meaningless and arbitrary platitude?

Don't just assume that because you think something is reasonable, that it necessarily must be so. That is just arrogance.

 

I do not care if two angels from heaven arrived to provide you with the idea....The math does not work..

 

The same amount of cuts to entitlements would not be caused 'modest' but words like 'DRACONIAN' would be the lefts headlines.

 

They have only three excuses for this

1. S&P did it...greeted by laughs by most
2. The Tea Party Did it...only works for the extreme left
3. Bush did it...too sad for comment

 

It's not radical or absurd to honor the Constitution and follow the rule of law.

But you don't follow the Constitution, only your fantasy idea of what it is.

Why don't you get yourself a lawyer and go tell your bizarre ideas about the Constitution to a Judge?

 

No (*)(*)(*)(*)! Exactly correct.

The strange thing is... Bush does own a lot of this... but not because of the (*)(*)(*)(*)ing tax cuts... because he spent like a drunken sailor on leave. There actually IS some attributable blame... and they simply refuse to accept the problem, which soured many conservatives (myself included) off of Bush, which were carried to epic levels by Obama. Spending. Entitlements.

This is what happens when pyramid schemes crash. Everybody is scrambling to find someone to pay into the system so they can get their payout... but there are too many payouts due.

 

Uncle Ferd says, "Yea...

... ya don't finance a war...

... by cuttin' taxes onna rich folks...

... when dey the only ones dat can afford to pay fer it...

... an' by outsourcin' jobs...

... so nobody else can afford to pay fer it either."

 

The total cost of both wars over the last 10 years has been about 3.3 trillion. The tax cuts effected approximately 1.2 trillion over that same time... less than a third of that coming from "rich folks".

Care to take a guess what 10 years of entitlement programs cost is?
Care to take a guess what 10 years of public health care will be? The White House says 1 trillion. The Cato Institute says 6 trillion. Note I say will be, because the administration carefully set up the system like a bad car dealer. 0 down, no payments till I am thrown out of office...

Do you know what putting the peoples money, over 2/3 of that 1.2 trillion in the hands of the middle class consumers did?

naaaaaaaaah... you don't wanna know that...

 

Apparently, nothing that happens on Obama's watch is his fault.

 

Tax cuts.. ... revenue.. job creation… partisan blame… blah blah blah…

Until Americans can grasp the truth about the multiple causes that got here.. and the single root of those causes.. the corrupt will continue to manipulate us as they keep us divided and cutting each others throats for them.
Tax cuts alone wont fix the economy.. neither will revenue increases.. neither will stimulus spending. We have a stunningly large deficit because we as Americans have allowed ourselves to become a mob of fearful, selfish, short sighted victims.
Causes of our demise.

1.Deregulation of our finance system starting off with Jimmy Carter and continuing with every single President.. to the present with Barack Obama. This focused Banks on the easiest way to make money… speculation, market manipulation and sanctioned fraud through increased ratio fractional banking practices and the almighty deregulation of securities and CDO’s, Naked short selling, decreased margins.. the list goes on.. but it all comes down to banks creating profits out thin air and fees instead of the old fashioned way.

2.Unfunded goodies used to bribe the voters for votes… like Tax cuts, Medicare part D, Crazy defense spending, Expensive and assbackwards healthcare cost structure ETC..

3.Corrupt campaign practices that ensured that only Ex-lawyer and banker politicians were elected. Uncontrolled Lobbyist activity in Washington allowing corporations and foreign interests to dictate U.S policy

4. Trade Policy and tax structure that encourages exportation of jobs and technology to totalitarian regimes whose abuse of human rights and disregard for the environment makes them impossible to trade with fairly. Defenseless trade policies that leave us vulnerable to these predatory countries and corporations resulting in loss of jobs by the millions and subsequently tax revenues from those lost jobs.

5.Tax structure that unfairly stifles small business while favoring megacorporations.

6.Illegal/Unconstitutional Wars for special interest.

All these things are the actions of both parties in Washington. They are the cause , we were the enablers who believed the lies because we were stupid by choice. Now we elect uncompromising ignorant politicians that want to erase in 10 years what it took us the last 45 years to build up…. Even if it destroys the country. We have politicians who are too cowardly to cut the unsustainable entitlements they lavished on their base.. instead they are willing to sink this country for short term profits.
Quit pointing the finger at the people WE placed into power. We as a people have empowered the very criminals that divide us and exploit us. The only way we can save this country is to unite as a people.. ignore the divisive tactics of partisanship and do what makes sense in order to right this nation we ALL live in.

 

YES! Thank you so much for this post. I get involved in the fray because the dishonesty is just annoying. Entitlements are the problem, and that is the lefts bread and butter so to speak so I get neck deep in this partisanship. The truth is, they are, both the republican and democrat parties, just two sides of the same machine. The divisive nature of that machine is stunning in its brilliance and intricacies. Keep us bellowing at each other while the same (*)(*)(*)(*)ed guy keeps being re-elected since there was a television in every home. Which candy bar is your favorite, and which one sucks... Mounds or Almond Joy? The powers at work behind this puppetry have set up a system so profoundly engaging that even though nobody is happy, nobody rationally considers a third party. Much the opposite... we find the furthest D or R that could possibly be elected, and expect them to lie to convince the middle, or the people who are not 'us' to get the job done, which never gets done.

The government will not shrink itself.

The people will not stop taking what is offered.

There are many solutions. Very few are something you want your kids seeing.

 

It’s true that GWB was a stealth leftist masquerading as being a conservative, that relative to real conservatives he expanded government and spent money like a drunken Dhimmicrat on steroids, and that he also did his level best to morph the Republican Party into the second coming of the Dhimmicrat Party. However, when it came to federal deficit spending and ballooning the national debt, compared to BHO, GWB was a rank amateur.

In any event, specifically how did the Bush tax cuts increase the deficits and the national debt when the increased economic activity it incentivised led to record levels of federal revenues? The Bush tax cuts didn’t lead to less federal revenues, instead it led to greater record levels of federal revenues just like it did too when Reagan cut taxes, when Kennedy cut taxes, and when Coolidge had also cut taxes, because it boosted economic growth.

The problem with GWB was he was addicted to expanding government while at the same time pursuing liberal fantasy based nation-building missions in Afghanistan and Iraq to lift up Muslims based on leftwing political correct myths. In other words, he didn’t have a conservative bone in his incredibly liberal body. He said he was a compassionate conservative, but we know now that he was really a big government liberal.

Nevertheless, compared to BHO with both houses of Congress controlled by Dhimmicrats, GWB was a rank amateur. As those losers together exploded the national debt in just two years more than GWB and all other US Presidents combined.

Indeed, we don’t have a federal revenue problem in this country, we have a spending problem, as the Dhimmicrats put the rate of government expansion and government spending on steroids and in the middle of a recession when federal revenues were inevitably precipitously falling because of an economic recession caused by a financial crisis seeded years earlier by Dhimmicrat federal regulators creating insane federal regulations forcing financial lending institutions to make mortgage loans to unqualified minorities they would never be able to pay back.

In addition, raising taxes, which is what lifting the so-called Bush tax cuts would amount to, during a deep economic recession would in the long run not result in increased federal revenues. It would inevitably result in less federal revenues because it would further cause economic activity to decline and unemployment as a result to increase.

The only long-term solution to the debt crisis created primarily by Dhimmicrats, but also by big spending Republicans that are really for all intents and purposes RINOs, is to create an economic environment conducive to long-term and sustained economic growth so that the level of debt in the long run eventually becomes inconsequential as a percentage of GDP, and this can’t be done by raising taxes and creating onerous federal regulations that snuff out and kill businesses.

Finally, the massive level of expansion of the federal government that first began under GWB but then exploded under BHO must be rolled back. We can start by repealing Obamacare and then by also reforming entitlements. We should also get out of Iraq and Afghanistan ASAP, since both those missions are incredibly fantasy based and exceedingly counterproductive. Lastly, we should ban and reverse Muslim immigration and seal the borders ASAP, and at the same time do away with the massive Department of Homeland Security and the immense National Intelligence Directorate that were created specifically to continue accommodating mass Muslim immigration along with all of its excess baggage, since zero Muslim stealth jihadists living in America as a fifth column equals zero jihadist attacks. Indeed, if we do those things America will be great again.

Anyway, the last thing we should do is gut the military because the level of threats don’t miraculously melt away because of economic recessions, and fighting wars caused by a lack of deterrence is far more expensive than maintaining an adequate military. Indeed, BHO with his insane spending and massive expansion of government is a direct threat to the National Security of America

 

It's all of them, the latest unholy trinity of guilt. What Bush did to this country is way worse than it appeared to most, for us all.

His fault was coming in thinking he could work with the con men of DC. THAT was stupid.

 

Instead he BECAME a DC conman.

 

I thought the cause of the downgrade was:

- The 5% of the Congress that is the TEA Party that did not get its way?

- A S&P Conspiracy?​

... but now I find out it is the "Bush Tax Cuts".


It seems the Liberals will try and blame everyone they can hoping some of the blame the throw out sticks. In November 2012, the Democrats are going to learn that the American people are not that stupid and see through their lies and deceit. Every reasonable American knows we are spending way too much and that is the cause.

 

The ironic thing about this thread is S&P gave the downgrade because all we can seem to do is play the blame game. No one is being the "grownup" and making the tough decisions.

 

I agree, but the Boooosh tax cuts was only a small part of the reason for downgrade. During the boom years of the 1990s the Fed paid down the debt and was on projection to a surplus (the opposite of a debt). After 911 the federal government grew to epic proportions and the wars cost American taxpayers trillions and a lot of blood. During this time of exuberent spending on military and aid to countries of interest, the started to create loop holes in the tax structure, did away with estate taxes, and gave the rich tax cuts, and gave corporations tax cuts. The reason this was done, was not by accident. This was done to destroy the government and mess up the next president that was going to take office.

The 2008 presidential election was allready set, the republicans had a few jokers running but the investment market knew that a democrat was going to be president. How is this you ask? Well, the plan to destroy the economy was set in mid 2000 and no republican in his right mind would take on a nation that is in massive dysfunction, high unemploument, low dollar rating, low interest rates, the largest debt in US history, no jobs, and a realestate bust.

FYI, Here are some facts. Not sales BS that investors puch.
In Feb of 2008 the investment markets, in allmost all sectors had allready sold off their defense, energy, industy, and realestate investments (republican backed stocks), and by September of 2008 the market started it's radical swing down. Investors were waiting to buy back in, but this time it would be in healthcare, manufacturing, entertainment, and science & technology (Democratic backed investment sectors). And when March of 2009 came the market bottomed out, Dow was in the 8000s, It was time to buy back in. Hence the rapid climb of the bull market of 2009. By November of 2009 the DOW was at 10,000s, and the investment market was again on track to recovery.

Regarding the S&P, the S&P was part of the plan in keeping the USA at AAA throughout history because they are in the pockets of the corporations of the USA. However, in this global economy when more than half of the investment money comes from abroad, the S&P must show competency that they judge with accuracy. In fact, back in the early 2000s by world standars the USA should have been AA at best, because every serious investor knew where the USA economy was heading.

These rating agencies are like sales people, they mean nothing to the serious investor. A serious investor rates the countries paper and corporations based on many factors. Take for example the bond market. Some buy into the propaganda that it is a safe sector to invest in. However, it is very high risk and with low returns. The Global economy has blossomed greatly in the past 15 years. Investing, has changed and other markets and countries must be taken into consideration. And most importantly the political landscape of the country in question. The USA Rating agencies can only fool the foolish investors of the world up to a point. Eventually those fools will catch on to how investments from one country like the USA impacts other countries around the world. When those investors wise up, the USA will further fall in status with other countries because the USA has maxed out on it's ability to innovate and develop. The only countries standing tall will be the emerging countries like Brazil, China, Austrailia, Germany, France, India, most of the Netherlands, and some of Russia. Why, because they have more room to grow and develop culturally and economically.

If the Arab world can get religion out of their policies and politics they too will be a huge force to conted with. Why, because of all the countries, they have the most to grow and emerge, with a lot of resources.

 

The Bush tax cuts amounted to a reduced revenue of about $70 billion dollars a year. That's about the same as the $60 to $90 billion dollars in Medicare fraud that occurs every year. LOLOLOL!

Somehow to liberals the Bush Tax Cuts of $70 billion dollars of cuts killed the country, but $70 billion dollars in Medicare fraud has no effect. Medicare fraud is a double whammy. Fraud means no one received the medical care so we have to pay a second time when they do which would make it more like $140 billion instead of $70.

Democrats don't seem to care that the public is being ripped off this badly as long as they can raise taxes to cover it.

So far As of April 2011 Holders Justice Dept has prosecuted $613 Million in Medicare fraud cases. That comes out to about 1.2%, we're on track to clear a whole 3.6% for the year, why bother. No, Holders Justice Dept is busy suing states over their laws they pass instead of getting serious about going after the fraud. That's already a $60 billion dollar cut in Medicare health care as the fraud provides NO medical care where it could be. Clean up the fraud and add $60 Billion in care to the elderly. It's not that hard of a concept.

 

Nice take on the last 12 years but I see this era in our history beginning with Jimmy Carters kick off of Bank deregulation.

The seemingly systematic way this countries finances have been destroyed... attacked from every possible angle... from skewed taxation to insane spending on defense and self destructive trade policies. Couple that with the seemingly intentional destruction of our public education system.... It does seem to point to a concerted effort to weaken the U.S enough to be controllable and beholden to the IMF and World Bank. The next logical step in this process will be to remove the Dollar as the world reserve currency. I believe this will happen within the next 3 years.

 

I am sure this already been posted but....

....why didn't the democrats eliminate them and raise taxes when they controlled the entire country?


Psst.....this Obama's fault you (*)(*)(*)(*)ing idiots

 

I regret you're being loft off of George Soros' memo. The meme today is that the downgrade was caused either by an incompetent ratings company which needs to be taken over by Rep. Barney Frank or it was caused by the Representatives who want spending curbed. Those are the two choices. There aren't any others until President Obama gets back from vacation.

"Where were yoy, Daqddy, when the ratings dropped?" "I was at a birthday party, Honey. See, it wasn't my fault."

 

Its partly Obama's fault.. dont forget Jimmy Carter, Ronald Reagan, HW Bush, Bill Clinton, G.W Bush

To believe that Obama could have possibly wreaked this level of havoc and destruction of this country in 3 short years is beyond being a simple minded.

Obama is a tooth in the head of the beast thats ripping your obtuse head from your body...

 

Theyre liars, what do you expect them to do....

 

Thats simply a lie.

Obama is president.

He denied the Tea Party plan for fiscal sanity that would have avoided this catastrophe...

Bush handed Obama a AAA+ credit rating.

Lets take a look at how this really happened....

[ame="http://www.youtube.com/watch?v=s2MjQ17kDng"]‪Obama vs Obama on the Stimulus‬‏ - YouTube[/ame]

[ame="http://www.youtube.com/watch?v=JEfICUoWKBw"]‪Schumer: The American People Don't Care About Pork Projects In Stimulus‬‏ - YouTube[/ame]

[ame="http://www.youtube.com/watch?v=iW5qKYfqALE"]‪Barney Frank in 2005: What Housing Bubble?‬‏ - YouTube[/ame]