S&P

IBD Editorials

Editorial: Even S&P Gets It: We’re Broke

 Posted 07:02 PM ET

Fiscal Policy: Who needs a ratings agency to tell you bigger and bigger government threatens America? Catastrophe is just around the bend if President Obama and congressional Democrats are not stopped.

Standard & Poor's warns of "the increased risk that the political negotiations over when and how to address both the medium- and long-term fiscal challenges will persist until at least after national elections in 2012."

But S&P isn't lowering its AAA rating on U.S. debt. Not yet anyway. Such schizophrenia is yet another reminder that S&P, Moody's and Fitch are far from being the oracles of dependable wisdom many once thought.

Standard & Poor

Standard & Poor's lowered its outlook for the nation's long-term debt Monday, saying the political grousing over the deficit could put more pressure on the still shaky economic recovery. "The outlook reflects our view of the increased risk that the political negotiations over when and how to address both the medium- and long-term fiscal challenges will persist until at least after national elections in 2012," said S&P credit analyst Nikola Swann.

And that, according to 
IRS statistics from back in 2008, of the so-called "wealthy" Americans:

The top 1% of earners pay 38.02% of all income taxes
The top 5% pay 58.72%
The top 10% pay 69.94%
The top 25% pay 86.34%
The bottom 50% pay 2.70%
 

Obama Spokesman: Obama Never Promised Not To Use Signing Statements
Candidate Obama: I Promise I Will Not Use Signing Statements

—Ace

Wow, AllahPundit noted on Friday: The candidate who promised to never use presidential signing statements to effect constitutionally-dubious glosses on Congressional legislation -- interpreting them this way or that -- is now actually using them to directly contradict and illegally veto congressional legislation.

 

Left wingers are animals [Reader Post]

By: DrJohn

10digg

I don’t know how else to describe them. Left wingers are animals. They whine about their rights- their rights to scream, their rights to yell, their rights to harass, their right to demand that everyone else pay to support them. And it is a one way street.

They’re not content to disagree with Sarah Palin. They try to shout her down.