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Why do republicans worry so much about our Americas credit rating?

After all, bad credit is a blessing in disguise because it forces you to live within your means. Isn't that what the Tea Party and other conservative’s desire?

Update:

Perhaps they should have let the fiscal cliff happen

Update 2:

Real bad credit means you're not borrowing anything anymore.

11 Answers

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  • Hobbit
    Lv 7
    8 years ago
    Favourite answer

    The Tea Party doesn''t want to cut spending. Look at the Bush years. They ran huge deficits every year.

    They are worried about the credit rating becasue, if it is downgraded, they might not be able to keep borrowing money to hand out to their rich friends and corporations.

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  • Anonymous
    8 years ago

    When you have bad credit you have less means to live within. There is nothing good about bad credit. You people are on here every single day making up crazy excuses for the atrocious policies of Obama and the Democratic Party. They have done nothing for the fiscal health of the nation since 2006 and they don't intend to now. There is no advantage to having bad credit.

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  • 8 years ago

    A low credit rating increases the interest rate on the money you borrow. We have about $16.4 trillion in debt, so even a small increase in our interest rates will cost us a lot. Besides, both China and Japan have expressed concern about our financial mismanagement, so it's only a matter of time before they refuse to lend us any more money (or buy any more of our treasuries). Then we will be in one hell of a mess. With Obama at the helm, it's only a question of time before that happens. He's playing with fire.

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  • vay
    Lv 4
    4 years ago

    S&P pronounced that regardless of if 4 Trillion replaced into shrink there could nonetheless be a 50/50 danger of a downgrade. The democrats does not make adequate cuts, consequently S&P downgraded the U. S. credit status. I do have self assurance I bear in mind the Tea party all calling for cuts, and the republicans did agree that cuts have been a good theory. just to allow you to already know S&P additionally pronounced: "The outlook on the long-term score is damaging. shall we decrease the long-term score to ‘AA’ in the subsequent 2 years if we see that much less help in spending than agreed to, greater fees of activity, or new economic pressures in the process the era effect in an stronger ordinary government debt trajectory than we at present assume in our base case." So till you prefer to be downgraded returned, I recommend you vote for a political party that needs to make cuts.

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  • pdooma
    Lv 7
    8 years ago

    Poor credit means money is more expensive to borrow.

    We're still going to borrow money; we have an incapability to say no in this country. We're just going to do it at a premium now. The interest on the debt will just rise faster.

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  • ?
    Lv 7
    8 years ago

    Yeah, that's working out great in Europe, right? There are a lot of countries out there with junk ratings, yet still can't even come within 5% of GDP of a balanced budget. You really have no idea how government functions, do you?

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  • M
    Lv 7
    8 years ago

    That's not what a bad credit rating means

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    Source(s): Independent
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  • Anonymous
    8 years ago

    Lol. I stopped worrying a while ago. If liberals want to destroy this country, so be it.

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  • Anonymous
    8 years ago

    Vanity

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  • 8 years ago

    That line of thinking would actually work if Obammy would actually live within his means......

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