So; understand S&P made a 2 trillion accounting error in their analysis of the downgrade. True?

[EV_Ares]

[bluestate10]

1. Sounds par for the course for S&P. The Administration should hang

S&P with that mistake and show S&P up for the clueless fools that they are.

[Ruby the Liberal]

6. There is no mistake. The difference

is that the WH is assuming the Bush tax cuts will expire in 2012 (and the debt ceiling bill was scored by CBO based on that assumption) ans S&P is saying that they will not make that assumption as they will believe it when they see it.

[RB TexLa]

2. Doubtful. But if it's mentioned on the internet people will believe it

[DJ13]

3. They believe the Bush/Obama tax cuts wont expire in 2013

"Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act."

For the purpose of the debt ceiling the administration's numbers are based on the tax cuts expiring.

[originalpckelly]

4. I heard the United States is about to have another Great Depression.

And that it was so stupid it outsourced all the real jobs overseas, and that it's number one export is paper or electronic credits.

[Ruby the Liberal]

5. No. Not true.

S&P = we don't think the Bush tax cuts will be allowed to expire in 2012 so did not add that assumption into our analysis

WH = trust us, we really really will let them expire this time and if you don't assume that, you are making a 2T 'math error'

S&P = well, we'll believe it when we see it and if there is additional revenue added to the mix, we'll raise the rating back up

Boehner = its all spending related!!!

America = STFU, John.

[Horse with no Name]

7. I was wondering where the magic bullet was coming from

that makes sense.

[Ruby the Liberal]

8. S&P Execs were all over the teevee tonight explaining this.

I applaud them for not making the assumption. Just like "we can't/won't put the debt of the US on tha backs of those who can least afford it", until we can and do.

[Horse with no Name]

9. I was watching Bubble Guppies

:D
Seriously.

[Ruby the Liberal]

12. I am starting to wish I was

The disinformation and bumper sticker talking points are giving me a massive headache tonight.

[Horse with no Name]

14. I'm still pissed of majorly over the compromise in the first place

I can't watch anything political right now. My blood is boiling.

[nadinbrzezinski]

10. Read the statement, because it is not about the debt

even if making a trillion error should send them to detention.

It is about our unstable political system.

[CleanGreenFuture]

11. Come on! A $2 Trillion dollar mistake??? Give me a fucking break!

[Ruby the Liberal]

13. It wasn't a mistake.

*sigh*