Right, it was just a tipping point. Fitch and Moody’s made so much noise

About downgrading because of political tensions, govt shutdowns, growing deficits, utter gridlock in congress, etc, and just kept saying “boy oh boy will a default be a tipping point!”

Maybe you remember it that way after a few too many pints. Because it wasn’t that way. Downgrades were threatened and then enacted twice - during the two times the republican party threatened to force an unnecessary default.

There’s no rational argument here. I never said the US could grow debt to gdp indefinitely and not ultimately be downgraded. But the fact is downgrades have only happened as a direct result of repub default games. They’ve played the games twice. We’ve been downgraded twice. At the same times. It’s not just “the better argument”. It’s correlation, and the causation is clear as day in the analyst reports.

[Post edited by hoolstoptheheels at 08/02/2023 2:34PM]

(In response to this post by nyhoo)

Posted: 08/02/2023 at 2:31PM

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Current Thread:

Fitch Downgrades the United States' Long-Term Ratings -- Hoos Operator 08/02/2023 09:24AM

"repeated debt-limit political standoffs and last-minute resolutions..." ** -- PeteyPhil 08/02/2023 11:45AM

Yes, the threat of right wing idiots that you support refusing to pay our -- BocaHoo91 08/02/2023 11:39AM

Hey lets raise Debt to GDP to 130%, just so long as we pay our bills all -- nyhoo 08/02/2023 12:11PM

We need to cut spending but not via threat of -- BocaHoo91 08/02/2023 12:21PM

Agree completely. But the thesis that this downgrade is a result of that.. -- nyhoo 08/02/2023 12:24PM

No, the only disingenuous thing (and dangerous thing) is ignoring the very -- hoolstoptheheels 08/02/2023 1:23PM

You have cherry picked the parts of the report to fit your narrative -- nyhoo 08/02/2023 1:54PM

I’m cherry picking the absolute fact that downgrades have only happened -- hoolstoptheheels 08/02/2023 2:24PM

Really, this is not one of your better threads -- nyhoo 08/03/2023 04:01AM

I’m glad you enjoyed the pint, and I share your frustration with certain -- hoolstoptheheels 08/03/2023 08:24AM

Plus, the McCarthy bunch had told us they'd have the bulk -- Shenhoo 08/02/2023 1:31PM

I spend less time here, but in guess I hold out hope -- BocaHoo91 08/02/2023 12:36PM

There is a 0% chance any rating agency would have downgraded us if -- hoolstoptheheels 08/02/2023 1:27PM

How in the world can you say that? It is something you do not know, and... -- nyhoo 08/02/2023 1:56PM

How can I say that there have been 2 downgrades, and they both coincided -- hoolstoptheheels 08/02/2023 2:14PM

And one last point before I head to the pub -- nyhoo 08/02/2023 2:06PM

Right, it was just a tipping point. Fitch and Moody’s made so much noise -- hoolstoptheheels 08/02/2023 2:31PM

**** -- nyhoo 08/02/2023 12:24PM

Get help Boca. ** -- Hoos Operator 08/02/2023 11:50AM

Back at ya. You support a guy who said we should let the country default -- BocaHoo91 08/02/2023 12:09PM

Easy solution: don’t vote for psycho right wing morons who barely got -- WahooRQ 08/02/2023 10:54AM

Building Back Better. ** -- Los Angeles Hoo 08/02/2023 10:52AM

It’s not going to matter in terms of faith in US treasuries any time soon. -- hoolstoptheheels 08/02/2023 10:09AM

I’m sure Republican debt default threats have nothing to do with it. ** -- SixerHoo 08/02/2023 09:56AM

Political stability, rights, rule of law, quality and corruption -- ryno hoo 08/02/2023 09:45AM

Here is a part you left out of your copy and paste -- 111Balz 08/02/2023 09:34AM

There’s a good reason these downgrades only happen during or in the -- hoolstoptheheels 08/02/2023 10:13AM

Meh...framing this as a debt ceiling consequence and faulting Republicans -- nyhoo 08/02/2023 12:09PM

All evidence to the contrary, I suppose. There’ve been 2 US treasury -- hoolstoptheheels 08/02/2023 1:07PM

Certainly doesn't help when congress people routinely call for defaulting -- HoosWillWin 08/02/2023 09:38AM

Fortunately its not routine, at least yet. -- hoolstoptheheels 08/02/2023 10:26AM

Long overdue and still too high. Moodys is the only RA left at AAA ** -- nyhoo 08/02/2023 09:27AM