U.S. credit: Raising debt ceiling isn't enough
July 15th, 2011
11:52 AM ET
3 years ago

U.S. credit: Raising debt ceiling isn't enough

NEW YORK (CNNMoney) - If only lawmakers would raise the debt ceiling before Aug. 2, the United States will get to keep its top-notch credit rating. Right?

Yes, but not necessarily for long.

FULL STORY

Filed under: CNNMoney.com • Congress • Debt • Deficit • President Obama
soundoff (10 Responses)
  1. GI Joe

    Many many republicans have publicly stated that their sole purpose is to make sure President Obama has only one term.

    I thought they took the pledge to uphold the constitution and put the welfare of the United States above all else.

    But now that seems to interfere with the pledge they made to Grover Norquist (whom has never ever in his lifetime been elected to ANY office). They are committing treason.

    Vote them out - they are Corporatists, not Americans.

    July 15, 2011 12:02 pm at 12:02 pm |
  2. gt

    if we dont raise revenue and cut spending were are gutless cowards...

    July 15, 2011 12:15 pm at 12:15 pm |
  3. Democrat Class Warfare & Race Baiting - Destroying the economy, destroying the country

    The country is a financial mess thanks to decades of trying to build a welfare state based on the backs of fewer and fewer "rich people". Our government has borrowed trillions with our childrens and grandchildrens paychecks as collateral. Not only are we $14.5 TRILLION in the hole, we will be ADDING another 14-20 TRILLION over the next decade thanks to Obama and the Democrats. Our UNFUNDED liability is $63 TRILLION (we are on the hook!). Down grade us??? What the heck has taken them so long! Any person in this financial condition would have been shut off from borrowing money years ago.

    July 15, 2011 12:17 pm at 12:17 pm |
  4. Rudy NYC

    "The country is a financial mess thanks to decades of trying to build a welfare state based on the backs of fewer and fewer "rich people". Our government has borrowed trillions with our childrens and grandchildrens paychecks as collateral. "
    -------------
    If Democrats are responsible, why is that it has been Republican Presidents who have added the most to the national debt? I agree with you about the welfare state that has been created. It has been the corporate welfare state that has destroyed our economy.

    You love to lay blame on Obama for adding trillions of debt, while refusing to admit the role GWB had in it. You assign the FY2009 $1.5T deficit to Obama when in fact that is the annual budget that Obama inherited. It is the corporate welfare that is killing this country. Our constitution does not guarantee a business anything, not even fair trial.

    July 15, 2011 12:26 pm at 12:26 pm |
  5. Without a plan...!

    So rhetoric...! Why is Obama negotiating the debt-ceiling with the media and not with the leadership in Congress? This man
    Obama when cornered pulls out his trump-card...ridicule the opposition..! So now we clearly see when things get tough and
    too hot in the White House Obama goes "AWOL" For Obama solving problems is spend more......!

    July 15, 2011 12:28 pm at 12:28 pm |
  6. Democrat Class Warfare & Race Baiting - Destroying the economy, destroying the country

    I agree with you about the welfare state that has been created. It has been the corporate welfare state that has destroyed our economy.
    ===============================================================================================
    Corporations pay HUNDREDS of BILLIONS in taxes to the government. Their employees also pay HUNDREDS of BILLIONS as a result of their employment. Do you even have a clue how the economy works?

    You love to lay blame on Obama for adding trillions of debt, while refusing to admit the role GWB had in it. You assign the FY2009 $1.5T deficit to Obama when in fact that is the annual budget that Obama inherited.
    =================================================================================================
    If you deduct all the TARP money which was REPAID, it is closer to $700-800 BILLION. Obama more than DOUBLED it in his frist year and every year after.

    Our constitution does not guarantee a business anything, not even fair trial.
    ============================================================
    Don't understand how laws work either I see. I guess you think comapnies exist for the sole purpose of generating money for the government? Do you think you live in Venezuala? I think they or Cuba have the government model you advocate. Maybe you should move there?

    July 15, 2011 01:01 pm at 1:01 pm |
  7. Indy

    Thank God Rudy NYC is on here to correct Democrat Class Warfare who just does not see the truth about what,where,when and who put the country in this mess. Good golly one has to be smart enough to know this took 12 years to get to this. How can you miss the facts all the time Warfare ? You are correct on the problems but you have got to be honest with yourself about the whole picture, and it is not Obama who was at the helm when this first started to tailspin into what it is today.

    July 15, 2011 01:23 pm at 1:23 pm |
  8. Hilroy

    Yes,
    The Bush and Cheney rich friends are laughing. It is the two wars stupid and the trillions spent on the unwanted war in Iraq. Kantor and all his Wall Street and media owning cabal and Middle Eastern cabal brothers are intent on bringing this president down. Are you looking for someone to blame? This deed strated under Paulson and others in the last WH.

    The easy thing to do these days is the blame the black man for all that ails the US while the greedy white man slithers away with his scales intact.

    July 15, 2011 01:29 pm at 1:29 pm |
  9. Greg in Arkansas

    @ Democrat Class Warfare.....Where were YOU when Bush and the GOP decided to fund the Iraq war with tax cuts?
    Getting tired of yor copy and paste propaganda......but.....I guess that's all a GOP TROLL is hired to do....

    July 15, 2011 01:45 pm at 1:45 pm |
  10. The Greedy Old Pigs have declared class war on US!

    Dear "Without a clue":

    President Obama has proposed spending cuts linked with revenue increases via closing loopholes and returning to the old tax rates for the top 2%. The leaders of Congress have been well aware of this proposal for some time now. Sadly, the crazy members of the corrupt corporatist cult of deregulation and corporate welfare (mostly GOBPbaggers) have decided their cult is more important than their country. That is the bottom line. The truth shall set you free.

    July 15, 2011 02:22 pm at 2:22 pm |