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Europe going through the same thing only worse. president obama wants to raise the debt limit in the united states. s & p is saying you are not doing this right. you can t keep borrowing money and not bring in money. eventually you can implode like greece did. you may see several other european countries being put on negative watch. president obama continues to borrow money and go against what the rating agencies are telling it to do, basically stop spending money you do not have. megyn: doesn t he have to do it? either have to do that or stop spending money and get the budget in order. megyn: that s what s & p told us to do. s & p said you are going down ....
Investigation into how you do this whole grading process. believe it or not, i was fascinated to find out how valuable s&p s ratings still are today and no one approaches how they go about doing their job when they seem to clearly have dropped the ball when it came to mortgage securities back leading up to 2008. they dropped many balls on the way to the big financial rollover. think about this. you know how they come out with the college rankings. it turns out that really matters at the end of the season, number one. number two, that s what s&p is. you may not agree with how you rank them or who is ranking them but the bottom line is the world looks at those ratings, the bond ratings and investors, they use these because when they sell the deal to investors, they say we use triple a ratings. don t blame us. blame s&p. if we find a smoking gun, it could destroy our credibility. it could be interesting for moody s if they get the same message. is this payback politics? here s a twe ....
Past. our white house guide with us now . the white house not happy with what s&p did. what can we look forward to or not in the next couple of dayings. we don t look forward for the president to come on camera. earlier michelle bachmann wanted the president to come back from camp david. the white house said no on camera statements. maybe he will put a writen statement and they were pushing back hard against s&p. they thought there was a mass error and s&p clearly decided to move forward because of a number of factors, not only the debt but the fact that you look inside of the report, they cited concerns washington not able to govern on big issues. not only at the white house, but congress and democrat and republican leaders up there . i think something else to look ....
For in the days ahead, a republican budget expert saying that there are other countries hit with a downgrade like canada, and australia and denmark, who ended up turning things around and had the downgrade changed you know months or years down the road. it will be a long road for the united states to turn it around and all eyes will turn to the super committee to see if they have a deadline or thanksgiving to come up with a plan and deadline of christmas to have an up or down vote on capitol hill. are they stepping up to the plate. both pears coming together. i wonder if the white house, we ll get the details tried to stop the s&p? they did. we are told led by the treasury department but the treasury wanted, was on the phone pushing back and saying ....
People. it is from the i.r.s. books and quoted by the congressional budget office itself pay no income taxes. i agree with you, some of them might not be in the position to pay taxes at all. but given your statement and taking it as a given we need tax reform. but tax reform should include revenues. address revenues. before you demand one group pay more. get everyone to get skin in the game. people who have the money are the ones that benefited from this economy. you keep hitting on the same group and tearing up the group. they have the money. that s what s&p is saying. you are hitting up with the same group and leave half of the people out television entirely. are you saying willie suton should go to the pawn shops. ....