Third Way - STATEMENT: On Standard & Poor's Downgrading U.S. Credit to AA+

[slipslidingaway]

http://www.thirdway.org/press_releases/167

"Yesterday’s ratings downgrade is the result of a completely self-inflicted wound. Washington was warned that it had to avoid both default and a downgrade, and instead played a high stakes game of chicken with the full faith and credit of the U.S. S&P’s downgrade decision is not a statement on the American economy, but an indictment of a dysfunctional political system and the willingness to use national default as a negotiating tactic to push for extreme ideological demands.

America’s credit rating is at a crossroads. We can choose to heed this message by finishing the deficit reduction job with a balanced plan that is composed mainly of entitlement cuts, closing tax loopholes and defense cuts, or we can squabble while our global standing continues to sink. The markets have spoken and anyone who continues to insist that entitlements or taxes are off the table is condemning the US to second rate economic status and a permanent downgrade.

Leaders from both parties should commit now to ensuring that the “super committee” isn’t a sham by resisting the urge to appoint only members who have already pledged to reject compromise. Republicans must back the ending of many major tax breaks. Democrats must support real entitlement reform. Together they must show that they hear the market message loud and clear, and that the ratings downgrade has changed the political calculus.

This is the moment where we decide whether we want America to be a AAA or AA nation."

[Poll_Blind]

1. I am actually thankful that their little screeds get posted here.

Saves me the time of having to find out what those fuckers are up to on my own.

PB

[slipslidingaway]

8. We should follow them closely ...

from the FISA bill to the HC bill and beyond :)

[Vincardog]

2. composed mainly of entitlement cuts, BULLSHIT the working people of this country have given ENOUGH.

TAX the RICH.
Feed the POOR
until their ar no rich no more

[slipslidingaway]

10. Medicare has always been the biggest problem going forward ...

but it is HC costs in general, we really need a national HC plan.

[Vincardog]

14. A national Single Payer plan would solve Medicare's problems by limiting Health care costs as well a...

eliminating Malpractice insurance costs all together.

[slipslidingaway]

18. Exactly but ...

we cannot talk about that.

:(

[Vincardog]

21. We better talk about that and every other LIBERAL idea that is thrown out to please the FASCISTS

IF we don't take control of our party and make sure that candidates and elected persons follow OUR Democratic principals we are fucked

[slipslidingaway]

43. Totally agree, others want to limit discussion and back whatever ...

our leaders say.

:(

[DJ13]

3. They seem to think this is a boost to their ideology

They really need to go back to being Republicans, they would fit in there.

[slipslidingaway]

15. Yes they do. nt

[kenny blankenship]

26. Republicans are claiming validation too. AA+ seems to make all the wrong people happy, don't it?

[QC]

4. Third Way = Fifth Column

Sadly, the White House does listen to these people.

[Rex]

5. Do they suck Rupert Murdochs cock too?

That guy gets more play then Hugh. A terrorist owns The S&P, but yeah let us just allow evil shitbags to do whatever they want...no crime here move along folks.

[readmoreoften]

6. Sorry but "Third Way" Democrats are Republican scum.

And a vote for them is a vote for Republican scum. The are not a lesser evil.

[polichick]

11. Absolutely!

[Lorien]

16. Amen. Heartless, evil, immoral and crazed with greed is what they are

and just as traitorous to the Nation as the scumbagger repugs.

[ibegurpard]

7. and these are the "Democrats" so many people on this board insist on defending

[merbex]

23. Yup, it's sickening isn't it? Deliberately blind OR complicit in agreement

this started back when Mondale was defeated

[madfloridian]

9. Read this to them...

From TPM:

From the S&P release ...

"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."

http://talkingpointsmemo.com/archives/2011/08/highly_salient.php?ref=fpblg

[dixiegrrrrl]

32. Strange that S&P did not recognize the collapse of the mortgage-backed securities market..

Or say anything when we were blackmailed into TARP.
Or any of the Bush debt ceiling raises.

[madfloridian]

34. Sounds to me like the blamed the GOP for it basically.

[slipslidingaway]

40. Yes but also see this comment ...

http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563

"...In addition, the plan envisions
only minor policy changes on Medicare and little change in other entitlements,
the containment of which we and most other independent observers regard as key
to long-term fiscal sustainability..."

:(

[PSPS]

12. Translation: The middle class needs to shut up and eat their peas.

Just forget about all that money you've been paying for decades into those insurance plans like Social Security and Medicare. We have better use for those premiums than paying benefits, like buying another 20,000 square foot "mountain cabin" and staffing it properly with undocumented and docile alien workers. And my wife, who is forty years my junior, tells me she has to get her boob job "touched up" and that costs money.

[malaise]

13. There is no third way

Fuck them

[Bluenorthwest]

17. The 'Third Way' rhetoric is Republican rhetoric minus the

stuff about Obama. In fact, in Third Way materials, the President is a nonentity.

[Dawson Leery]

19. Pinochet Way - STATEMENT:

"High income earners, regardless of how their income was earned need to pay less taxes at the expense of the middle and working classes".

[slipslidingaway]

37. Wonderful statement :( nt

[DirkGently]

20. Oh, yes, let's "finish the job" on entitlement cuts. But they mention taxes, too. Must be Reasonable

Jesus. If this is where Democratic leadership is getting its scripts, we're all screwed(er).

[tularetom]

22. I have a feeling if you probe deep enough into this organization

You will find ties to wealthy right wing activists. Koch brother types mostly known for financing the tea baggers.

I'd be very surprised if these same people weren't behind this third way bullshit.

[mmonk]

27. The Koch brothers funded the DLC. The DLC became this.

http://www.democrats.com/node/7789

[chill_wind]

46. Good link:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=2445516&mesg_id=2445516

[Dappleganger]

24. How is the Third Way's statement ANY DIFFERENT from the republican/tea party message?

List it here...these are not DEMOCRATIC principles being held any longer!!!

[mmonk]

25. They say it sanely and without insults giving the appearance it's a different direction.

[Angry Dragon]

28. Hands off SS and M&M

[nadinbrzezinski]

29. Predictable

and this is why they will downgrade even further...

What the standard and poors said is we no longer have a stable and PREDICTABLE political system.

They are saying the same thing I have been saying for a while... welcome to crisis.

And they all are MISSING IT by a mile... why am I reminded of insert country here after things like this.

[slipslidingaway]

39. " ...we no longer have a stable and PREDICTABLE political system..."

yes they do.

http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563

"...The political brinksmanship of recent months highlights what we see as
America's governance and policymaking becoming less stable, less effective,
and less predictable than what we previously believed..."

[Bonhomme Richard]

30. Just the name "Third Way" scares the shit out of me. n/t

[blkmusclmachine]

31. A Big Shout Out to "3rd Way:"

F U

[Zenlitened]

33. Well, that's refreshingly clear, at least. "Entitlement CUTS." Not "reform" or "strengthening"...

or any of the sidling-up-quietly sort of language we often hear. No, flat-out CUTS.

...heed this message by finishing the deficit reduction job with a balanced plan that is composed mainly of entitlement cuts, closing tax loopholes and defense cuts...

P.S. Have you seen their Board of Trustees? Golly, it's hard to imagine why they don't share much enthusiasm for Social Security and Medicare!

the Chairman of New Providence Asset Management, LLC and Senior Advisor to Warburg Pincus, LLC.

Chairman and CEO of BLS Investments, LLC

the Global Head of Equity Trading for Goldman Sachs.

Principal and Portfolio Manager of Ospraie Management, LLC

Chairman of Millbrook Capital Management, Inc.

Chairman and CEO of the Dyson-Kissner-Moran Corp., a privately owned, diversified investment holding company

Director and Portfolio Manager at MSD Capital, L.P., the private investment firm

Managing Director and Co-Head of the Global Financial Institutions Group at Morgan Stanley’s Financial Institutions Group in Investment Banking

President and Director of Fortress Investment Group

Chief Executive Officer of Bohemian Companies, a group of family-owned real estate and private equity holdings


etc.

Link:
http://www.thirdway.org/trustees

[nc4bo]

35. They sound exactly like Republicans. If it walks like a duck, quacks like a duck.....nt

[slipslidingaway]

36. You're right, now they come right out and say entitlement cuts, in earlier articles...

they talked about the need to strengthen entitlement programs.

From 2008 ...
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=2848967&mesg_id=2849280

"...Third Way, a non-profit "progressive" think tank that is funded and controlled by hedge fund managers, corporate lawyers and business executives has advised Sen. Jay Rockefeller on a domestic surveillance bill that includes immunity for telecommunications companies with which Third Way board members have close ties.

Rockefeller is the chairman of the Senate Intelligence Committee and has been the leading Democratic proponent of granting immunity to telecommunication companies that allegedly gave spy agencies access to their communication networks and databases without a warrant.

"We have advised Senator Rockefeller on messaging and have talked to his staff regarding FISA," Matt Bennett, vice president of Third Way said. "We believe there should be immunity and have been cooperating with ..."


Teleco Group Key Player In Immunity Battle
http://www.scoop.co.nz/stories/HL0802/S00008.htm

"...The organization's roughly $4.5 million operating budget comes from the private sector, mostly from their board of trustees, which also serves as the Third Way board of directors and has exclusive legal control over the company.

While the board members themselves provide the majority of the funding for Third Way, approximately 35 percent of their money comes directly from corporate donors. Third Way does not make a list of their corporate donors public. Bennett would not comment when asked if telecommunications companies were among Third Way's donors.

"Not a single member of the board told Third Way what to do regarding telecom immunity," Bennett said, adding, "day to day operations are handled by the senior staff."

...An investigation by Truthout revealed deep connections between some board members and telecommunications companies..."

[flamingdem]

38. UNREC for more assholes who want to undermine the Democrats

nt

[slipslidingaway]

41. "...a balanced plan that is composed mainly of entitlement cuts..."

the Dems at Third Way.

:shrug:

[flamingdem]

42. Get back to me if they truly allow this, which would be their death in 2012

until then screw the third way fake party crap

with Citizens United we can only guess the assholes behind any $ evil ... all of them

[slipslidingaway]

44. Stay silent and see what they do? No thanks - Uniquely American Solution - What is it ? Why is it ..

being pushed?

Back in 2009 when the topic of HC was on the mind of most Americans.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=6289091&mesg_id=6289091

Is the goal of the "uniquely American solution" to keep the private health care companies in business and protect their profits? It is not just the Democrats that are using the phrase, Karen Ignagni of AHIP wrote an article in April.

Some talking points from the Herndon Alliance and published on the Third Way site...

"Patriotism—“uniquely American solution”

[chill_wind]

45. REC.

Anyone trying to maintain the ludicrous pretense that these neolibs are not way more in the Republicans' corner than ours on too many of these vital issues and can't see where the real undermining of what's left of the Democratic Party is coming from needs to think again.

[slipslidingaway]

47. My thoughts as well, this is not the time to just go along because they ...

have the "right" letter after their name.

[amborin]

48. k and r "entitlements" seems to be their main target

[slipslidingaway]

49. Unfortunately yes. nt