Yoho the Yahoo: "Our credit rating would do better if we default"

UPDATED: Saturday, August 10, 2013 09:54
PAGE 1 of 1

Saturday, August 10, 2013 9:54 AM


Gettin' old, but still a hippie at heart...

From a recording at a town hall provided by someone who attended the town hall, but wanted to remain anonymous:

I say, You know what, I know we need the money, and I’m gonna pay it, I’m just not paying you today, and we’ll pay you with interest, but we need to do a major reset and look at us internally, and say we can’t afford this …

… And so they say that would rock the market, capital would leave, the stock market would crash, interest rates would go up. I said, “Let me give you my feeling: Interest rates are gonna go up anyways. They went up the last time they raised the debt ceiling, interest rates went up … because we’re not dealing with the problem. We’re putting another Tylenol to the problem. And that’s not [an ad] for Tylenol.” So let’s just address the problem, and I think if we address it, I think the creditors that we owe money to around the world would say, “you know what, they’re getting their house in order.” And I think our credit rating would do better, if we did that than face the mass [sic] program we’ve been up to … There are several of us that we’re not raising the debt ceiling; don’t ask us. We don’t have a money problem, we have a spending problem.

Yoho spokesman Omar Raschid said Thursday that the recording is consistent with the representative's message.

Wasn't someone here insisting that the Republicans wouldn't shut down the government, and all news to the effect they might was bullshit?

About that credit rating. Bear in mind, the world’s economy was badly shaken the last time the GOP took us to the edge of default and our credit rating went down because of it. Sure, if you listen to Republicans, the United States was downgraded because of our “spending problem” and it’s all Obama’s fault but Standard & Poor’s was pretty clear about why they did it:

- The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics.

- More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

- Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon."[9]

I guess Ted Yoho the Yahoo doesn't remember that...or else he thinks our CREDITORS determine our credit rating???






Two nations reacting badly to Trump (Three, if you count Mexico)
Wed, January 18, 2017 18:12 - 5 posts
Predictions for President Trump in 2017, and beyond
Wed, January 18, 2017 18:11 - 2 posts
Trump: Prostitutes, Golden Showers and 'Kompromat'
Wed, January 18, 2017 18:08 - 63 posts
TRUMP - Just because.....................Naw, I just can't say it!
Wed, January 18, 2017 14:04 - 1688 posts
Sadly, Joss Whedon abandons his values to attack Nicole Kidman
Wed, January 18, 2017 13:44 - 39 posts
an ACTUAL problem with Trump - ie, not fake news
Wed, January 18, 2017 13:36 - 8 posts
Pundelum Swinging Prez Voterz?
Wed, January 18, 2017 12:57 - 3 posts
Glenn Greenwald (darling of progressives): The deep state is at war with Trump
Wed, January 18, 2017 11:39 - 25 posts Host Exposed as Neo-Nazi Editor
Wed, January 18, 2017 11:30 - 11 posts
In the garden, and RAIN!!!!
Wed, January 18, 2017 07:26 - 139 posts
Modern Educayshun and The Privilege Game
Tue, January 17, 2017 03:56 - 11 posts
Modern “Chastity Belts” to Protect Women From Migrant Sex Attacks Growing in Popularity.
Mon, January 16, 2017 18:12 - 13 posts