Market crushed

[moevillini]

Remember just a few days ago when it was necessary to pass the "compromise" legislation raising the debt ceiling? We were told that if we did not do so right away, our credit rating would be downgraded?

A lot of new congressmen forgot their pledges to hold the line on debt, believing that the impending evil of a downgraded credit required them to agree. They bargained though, and got some vague promises of spending reductions, to be decided by a "Super Committee" headed by the most profligate of all Presidents.

They sold out for a pig in a poke, and created a monster with supra-constitutional power.

Well, the credit rating was downgraded. . . . BECAUSE we did this...

Those whose news sources are a bit more fair and balanced (LOL) knew all along that even if the debt ceiling was lifted, the agreement as crafted was not enough to protect our AAA credit rating. Most rating agencies have said all along that unless the cuts were at least $4 trillion and there were some revenue increases included, we were still at great risk for a credit downgrade.


And everyone needs to keep in mind that budgets are based on EXPECTATIONS and if revenues fall short of what's expected, or expenses are greater than expected, even a balanced budget ends up in a deficit.

 

[NUMBERICA]

But what if we just cut all kinds of spending? Doesn't that fix everything?

 

[Saint Cy of JFC]

What we need is a big bake sale.

 

[Saint Cy of JFC]

Or a huge lemonade stand.

 

[NUMBERICA]

Sorry. Increasing revenue is unamerican.

 

[DutchJazzer]

If you legalized drugs, thousands of DEA agents would be out of work. You wouldn't need to use as many fighting the war on drugs. It would certainly help, but there are still negatives to that solution.

did i say everydrug i meant just mary jane. although i think shrooms could also be legalized.

still cocaine meth etc would still be illegal. so they can focus on enforcing that stupid ****.

 

[Gameface]

They could make it were you have to buy a license to grow marijuana, then make someone buy an additional license to distribute and sell marijuana. The need for DEA agents would be still be necessary to enforce the legality of Marijuana operations.

Never mind, let's just keep it illegal.

 

[Beantown]

I already fixed the deficit....remember?

 

[Saint Cy of JFC]

Never mind, let's just keep it illegal.

I would imagine something like that would happen if it ever became legalized.

 

[Duck Rodgers]

So what is everyone's best guess as to the date of a US bank run?

 

[The-Joker]

So what is everyone's best guess as to the date of a US bank run?

I don't really care... all my money is in the walls and my shoes.

 

[Duck Rodgers]

I don't really care... all my money is in the walls and my shoes.

The Joker - Putting the penny in penny loafers since the early 90's.