[Vision2020] CNN Breaking News

[Tom Hansen]

Wrong, g.

The rating is based on the country's ability to cover (pronounced "pay for") expenditures.

Drastic spending cuts, at a time when the country is sliding back into recession, does not bode well for our ability to pay our bills.

I can understand addressing future expenditures and the limits that must be applied to them.  But, to tell current creditors (owed by our country) that we may not be able to pay our bills is poor financial management.  Bankruptcy courts are full of debtors that claim the same thing.

As such people lose faith in our economy, as reflected in a 800-point drop in the market SINCE TUESDAY!

It really is that simple, g.

Seeya round town, Moscow.

Tom Hansen
Moscow, Idaho
 
"The Pessimist complains about the wind, the Optimist expects it to change and the Realist adjusts his sails."

- Unknown


On Aug 6, 2011, at 7:18, "Gary Crabtree" <jampot at roadrunner.com> wrote:

> From today's Washington Post
>  
> "...the bipartisan agreement reached this week to find at least $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would not be likely to achieve more savings in the future."
>  
> Was it the Tea Party that was fighting tooth nail in favor of raising the debt limit to an absolute all time high with no spending reductions what so ever? Was it the Tea party that would have no part of the cut, cap, and balance plan or the Mack penny plan that would have put the country on a path to solvency? Can you point to a single democrat/progressive plan that might have had as a result even a slight reduction in the countries debt burden? Heck, with two years of total government control they couldn't even pass a budget.
>  
> The bond rating agencies want to see spending and the debt required to perpetuate it brought under control, a goal that is at the very heart of the "Tea Party stench."
>  
> g
> 
> From: Tom Hansen
> Sent: Friday, August 05, 2011 7:13 PM
> To: Donovan Arnold
> Cc: Moscow Vision 2020
> Subject: Re: [Vision2020] CNN Breaking News
> 
> This downgrading, if adopted by the other two rating firms, has more of an adverse impact than you suggest, Mr. Arnold.
> 
> Do you realize that most, if not all, 301Ks are committed to investments with AAA ratings ONLY?
> 
> The result could be catastrophic 
> 
> Seeya round town, Moscow.
> 
> Tom Hansen
> Moscow, Idaho
>  
> "The Pessimist complains about the wind, the Optimist expects it to change and the Realist adjusts his sails."
> 
> - Unknown
> 
> 
> On Aug 5, 2011, at 18:57, Donovan Arnold <donovanjarnold2005 at yahoo.com> wrote:
> 
>> The good thing about a democracy is you get what you voted for. And the bad thing about democracy is you get what you voted for. Unfortunately, it is going to take much more than a downgrade of AAA to AA+ from S&P to make the American people respond to this economic crisis. I heard on NPR today that only 58% of the adult US population is employed. Scary!
>>  
>> Donovan Arnold
>> 
>> From: Tom Hansen <thansen at moscow.com>
>> To: Moscow Vision 2020 <vision2020 at moscow.com>
>> Sent: Friday, August 5, 2011 7:17 PM
>> Subject: [Vision2020] CNN Breaking News
>> 
>> Read on, V-Peeps.
>> 
>> More "good" news to pass on to the Tea Party stench, the cause behind this
>> downgrade.
>> 
>> http://money.cnn.com/2011/08/05/news/economy/downgrade_rumors/index.htm
>> 
>> The downfall of the market this week may foreshadow things to come.
>> 
>> Seeya round town, Moscow.
>> 
>> Tom Hansen
>> Moscow, Idaho
>> 
>> "Believe we're gliding down the highway
>> When in fact we're slip slidin' away."
>> 
>> - Paul Simon
>> 
>> 
>> ---------------------------- Original Message ----------------------------
>> Subject: CNN Breaking News
>> From:    "CNN Breaking News" <BreakingNews at mail.cnn.com>
>> Date:    Fri, August 5, 2011 5:31 pm
>> To:      textbreakingnews at EMA3LSV06.TURNER.COM
>> --------------------------------------------------------------------------
>> 
>> 
>> Rating agency Standard & Poor's says it has downgraded the U.S. credit
>> rating to AA+ from its top rank of AAA.
>> 
>> Rating agencies analyze risk and give debt a "grade" that reflects the
>> borrower's ability to pay the underlying loans.
>> 
>> The safest bets are stamped AAA. That's where U.S. debt stood for years.
>> 
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