US Downgraded

Moody's to downgrade the USA next?
Moody's says U.S. needs to find more deficit cuts
"For the Aaa rating to remain in place, we would look for further measures that would result in the ratio of federal government debt to GDP, for example, peaking not far above the projected 2012 level of near 75 percent by the middle of the decade and then declining over the longer term," Moody's analyst Steven Hess wrote in a report.
http://www.reuters.com/article/2011/08/08/us-usa-ratings-moodys-idUSTRE77713K20110808

Nice move, Obama.
 
Damo, you have made a concerted effort to remain woefully ignorant. I read your fear-mongering hit piece, but you have always refused to read or listen to a guy that spent 20 years as an insurance executive. The 'true believer' is YOU Damo. You are being fed very well funded propaganda.

Wendell Potter
is former Vice President of corporate communications at CIGNA, one of the United States' largest health insurance companies. wiki

Wendell Potter: Rally Against Wall Street's Health Care Takeover

August 31, 2009

I would like to begin by apologizing to all of you for the role I played 15 years ago in cheating you out of a reformed health care system. Had it not been for greedy insurance companies and other special interests, and their army of lobbyists and spin-doctors like I used to be, we wouldn't be here today.

I'm ashamed that I let myself get caught up in deceitful and dishonest PR campaigns that worked so well, hundreds of thousands of our citizens have died, and millions of others have lost their homes and been forced into bankruptcy, so that a very few corporate executives and their Wall Street masters could become obscenely rich.

But it was only during the last few years of my career that I came to realize the full scope of the harm my colleagues and I had caused, and the lengths that insurance companies will go to increase their profits at the expense of working families.

As I told the Senate Commerce Committee two months ago, the higher up the corporate ladder I climbed, the more I could see how insurance companies confuse their customers and dump the sick – all so they can satisfy those Wall Street masters.

I described for the senators how insurers make promises they have no intention of keeping, how they flout regulations designed to protect consumers, and how they make it nearly impossible to understand -- or even to obtain -- information consumers need.

I also told the Committee how the industry has conducted duplicitous and well-financed PR and lobbying campaigns every time Congress has tried to reform our health care system -- and how its current behind-scenes-efforts may well shape reform in a way that benefits Wall Street far more than average Americans.

I noted that, just as the industry did 15 years ago when it led the effort to kill the Clinton reform plan, it is using shills and front groups to spread lies and disinformation to scare Americans away from the very reform that would benefit them most.

Make no mistake, the industry, despite its public assurances to be good-faith partners with the President and Congress, has been at work for years laying the groundwork for devious and often sinister campaigns to manipulate public opinion.

The industry goes to great lengths to keep its involvement in these campaigns hidden from public view. But I know from having served on many trade group committees that industry leaders are always full partners in developing strategies to derail any reform that might interfere with their ability to increase their companies' profits.

My involvement in those activities goes back to the early '90s when insurers joined with other special interests to finance the activities of an organization called the Healthcare Leadership Council, which led a coordinated effort to scare Americans and members of Congress away from the Clinton plan.

A few years after that victory, the insurers formed a front group called the Health Benefits Coalition to kill efforts to pass a Patients Bill of Rights. While it was touted as a broad-based business group, the Health Benefits Coalition in reality got the lion's share of its funding from Big Insurance.

Like most front groups, the Health Benefits Coalition was set up and run out of a big and well-connected PR firm. One of the key strategies developed by the PR firm as the coalition was gearing up for battle in late 1998 was to stir up support among conservative talk radio hosts and other media.

The PR firm formed alliances with groups like the Christian Coalition and the Family Research Council and persuaded them to send letters to Congress and to appear at press conferences. The firm also launched an advertising campaign in conservative media outlets. The message was that President Clinton owed a debt to the liberal base of the Democratic Party and would try to pay back that debt by advancing the type of big government agenda on health care that he failed to get in 1993. Those tactics worked. Industry allies in Congress made sure the Patients' Bill of Rights would not become law.

The insurance industry has funded several other front groups since then whenever the industry has been under attack. It formed the Coalition for Affordable Quality Healthcare to try to improve the image of managed care in response to a constant stream of negative stories that appeared in the media in the late '90s and the first years of this decade.

It funded another front group when lawyers began filing class action lawsuits on behalf of doctors and patients.

The PR firm the industry hired to create that front group, by the way, had planned and conducted a similar campaign for the tobacco industry a few years earlier.

The insurance industry hired that same PR firm again in 2007 to help blunt the impact of Michael Moore's movie, "Sicko." It created and staffed a front group called "Health Care America" specifically to discredit Moore and to demonize the health care systems featured in the movie.

Among the tactics the PR firm used once again was to enlist the support of conservative talk show hosts, writers and editorial page editors to warn against a "government-takeover" of the U.S. health care system. The term "government-takeover" is one the industry has used many times over the years to scare people away from reform.

Health Care America also placed ads in newspapers. One of those ads carried this message, "In America, you wait in line to see a movie. In government-run health care systems, you wait to see a doctor."

With this history, you can rest assured that the insurance industry is up to the same dirty tricks, using the same devious PR practices it has used for many years, to kill reform this year, or even better, to shape reform so that it benefits insurance companies and their Wall Street investors far more than average Americans.

Americans need to be alert to how the industry and its allies are working to influence their opinions and lawmakers' votes. I know from years as an industry PR executive how effective insurers have been in using scare tactics to turn public opinion against any reform efforts that would threaten their profitability.

I warned earlier this year that Americans and the media should pay close attention to the efforts insurers and their ideological buddies would undertake to demonize health care systems around the world that don't allow for-profit insurance companies to have the free reign they have here.

Americans must realize that the when they hear isolated stories of long waiting times to see doctors in Canada and allegations that care in other systems is rationed by government bureaucrats, the insurance industry has written the script.

And Americans must realize that every time they hear we will be heading down the "slippery slope toward socialism" if Congress creates a public insurance option to compete with private insurers, some insurance flack like I used to be wrote that, too.

Every time you hear about the shortcomings of what they call "government-run" health care, remember this: what we have now in this country, and what the insurers are determined to keep in place, is Wall Street-run health care.

And know that we already have one of the most insidious means of rationing care in the world -- not by people we can hold accountable on election day but by insurance company executives who answer only to a few wealthy investors and hedge fund managers who care far more about earnings per share than your health and well-being.

More at link

Which doesn't change what is real. Each fact I listed is reality, this steamy pile of legislation (still being decided if it is even constitutional) is specifically designed to kill the industry to force us into Obama's idea of perfection. He stated it numerous times that it will take "steps" to "get there" while talking about Single Payer Government Health Care. That is absolutely the planned ending of this little trip we've started on....

This dude whining about what he did 15 years ago notwithstanding, we cannot afford to follow other nations into this economic suicide pact. It is time to step back and actually pay attention to the results of these policies in other nations, seek, find, and enact something different so we can expect a different result. The idea that the government is the only way we can ensure people are covered is utter garbage.

I'm hopeful the SCOTUS will understand reality, we cannot have a Government that can force us to buy whatever they want us to buy regardless of need and/or wants of the individual. Land of the free my a$$.
 
My brother and his wife are looking at homes in Panama...They want out of crazy- Apparently Panama has good strong economic growth and a very stable political climate.

That's real Americans for you. Run, when the going gets tough...actually the result of the mindset of people like you.
 
Stupid~ The problem with the deal is that it was not enough in actual and real cuts... GTFU

No , you GTFU. The problem with the deal is that revenue raising wasn't on the table. You don't cut spending in a recession, moron. Do you anything about history? Debate that.
 
North Dakota's had its own central bank for 90 years. There's nothing to prevent states from issuing their own currency and telling the feds to pound sand.
 
You are full of shit Dixie. I have a buddy who was an electrician. He fell from a 20 foot ladder and destroyed his spine. He had a surgery where they had to go in from the FRONT to repair his spine and pull all his guts out to get to the damaged area. He had to FIGHT to get disability. They would send agents to snoop and see if he cut the grass or shoveled snow. His wife was diagnosed with breast cancer at 30, she got NOTHING (she is now deceased).

Fuck YOU Dixie and all your kind who make SHIT up to justify PUNISHMENT...

Thank you for saying it. She and her ilk are the problem. They only care about themselves and no one else, yet , most of them claim to be "Christian"...and Christ himself would spit them out.
 
Which doesn't change what is real. Each fact I listed is reality, this steamy pile of legislation (still being decided if it is even constitutional) is specifically designed to kill the industry to force us into Obama's idea of perfection. He stated it numerous times that it will take "steps" to "get there" while talking about Single Payer Government Health Care. That is absolutely the planned ending of this little trip we've started on....

This dude whining about what he did 15 years ago notwithstanding, we cannot afford to follow other nations into this economic suicide pact. It is time to step back and actually pay attention to the results of these policies in other nations, seek, find, and enact something different so we can expect a different result. The idea that the government is the only way we can ensure people are covered is utter garbage.

I'm hopeful the SCOTUS will understand reality, we cannot have a Government that can force us to buy whatever they want us to buy regardless of need and/or wants of the individual. Land of the free my a$$.

The 'dude' is telling what he did RECENTLY. Potter resigned as Executive VP at Cigna in 2008.

WHY do you refuse to let your dogma and ignorance be disturbed Damo? You are being spoon fed the same corporate propaganda Potter was involved in. Obama didn't even push for a public option.

The article you linked is not about healthcare for Americans. It is about PROFIT for Wall Street. You are a fucking tool for Wall Street you idiot.

I talked months ago about Medical Loss Ratio and how Wall Street investors FORCE insurance companies to deny citizens coverage...REAL FUCKING DEATH PANELS!

The author is crying over the Affordable Healthcare Act requiring insurance companies to spend 85% of every dollar on TREATMENTS and BENEFITS for patients. He ADMITS insurance companies operate at 70% and 30% PROFITS.

In the 1990's before Wall Street took over the industry, insurance companies spent 95% on treatment and benefits.
 
The 'dude' is telling what he did RECENTLY. Potter resigned as Executive VP at Cigna in 2008.

WHY do you refuse to let your dogma and ignorance be disturbed Damo? You are being spoon fed the same corporate propaganda Potter was involved in. Obama didn't even push for a public option.

The article you linked is not about healthcare for Americans. It is about PROFIT for Wall Street. You are a fucking tool for Wall Street you idiot.

I talked months ago about Medical Loss Ratio and how Wall Street investors FORCE insurance companies to deny citizens coverage...REAL FUCKING DEATH PANELS!

The author is crying over the Affordable Healthcare Act requiring insurance companies to spend 85% of every dollar on TREATMENTS and BENEFITS for patients. He ADMITS insurance companies operate at 70% and 30% PROFITS.

In the 1990's before Wall Street took over the industry, insurance companies spent 95% on treatment and benefits.

The "dude" is talking about what he did back in the day and offering an opinion that differs from others with the same amount of experience on the more current issues. You have a problem between determining between fact and opinion. The reality is nations are collapsing under the incredible debt caused by the policies you espouse. I would prefer to avoid following them into that economic suicide pact. Even if this dude agrees with you, it doesn't change the reality of what is occurring right now.
 
They should have closed the loopholes, though. I'll never understand the TEA insistence on seeing that as a "tax increase."

How do you think job creation is going to be affected by our being downgraded? What will interest rates be like for small businesses?

It would have been easier to close some loopholes & show a good faith effort to increase revenue.

It isn't the tea party that led that line of thought.... it is friggin Norquist... that moronic jackass needs to go.... NOW. His idiocy is going to cost this country dearly.
 
First.... there has to be a viable alternative.

Second.... there is no viable alternative.... because we suck just slightly less than everyone other major player at the moment.

I can only hope we can hold off long enough to stay that way....
 
What are you groaning at, dude? isnt that the solution that "transcends the 'partisan bickering' of our 'broken system' " ?
 
The "dude" is talking about what he did back in the day and offering an opinion that differs from others with the same amount of experience on the more current issues. You have a problem between determining between fact and opinion. The reality is nations are collapsing under the incredible debt caused by the policies you espouse. I would prefer to avoid following them into that economic suicide pact. Even if this dude agrees with you, it doesn't change the reality of what is occurring right now.

Quit the double talk Damo. You don't have a fucking clue what I'm talking about or what Wendell Potter is talking about. Here are the FACTS you absolutely refuse to even consider: Your beloved insurance corporations do NOT put patients first. They put THEIR PROFITS first. And if that means denying payments for treatment to critically ill fellow Americans and sending them into bankruptcy or even precipitating their death, it's TOUGH SHIT for the patient. Is THAT is what you are willing to accept Damo?

As far as our debt, the CBO (Congressional Budget Office) SHOWED you the reality. If Congress follows current laws passed by Democrats, which includes implementing cost savings IN the Affordable Healthcare Act and ending the Bush tax cuts, it will put us on the path of the Extended-Baseline Scenario. NOT carrying through with those laws the Democrats passed, which Republicans would do if they gain enough power would put us on the path of the Alternative Fiscal Scenario.

WHICH one would YOU choose Damo?

Federal Debt Held by the Public (Percentage of GDP)
SummaryFigure1_forBlog.png


CBO’s Analysis

The Extended-Baseline Scenario. Under this scenario, the expiration of the tax cuts enacted since 2001 and most recently extended in 2010, the growing reach of the alternative minimum tax, the tax provisions of the recent health care legislation, and the way in which the tax system interacts with economic growth would result in steadily higher revenues relative to GDP.

The Alternative Fiscal Scenario. The budget outlook is much bleaker under the alternative fiscal scenario, which incorporates very different assumptions about revenues: that the tax cuts enacted since 2001 and extended most recently in 2010 will be extended; that the reach of the alternative minimum tax will be restrained to stay close to its historical extent; and that over the longer run, tax law will evolve further so that revenues remain near their historical average of 18 percent of GDP.

This scenario also reflects the assumptions that Medicare’s payment rates for physicians will remain at current levels (rather than declining by about a third, as under current law) and that some policies enacted in the March 2010 health care legislation to restrain growth in federal health care spending will not continue after 2021. In addition, the alternative scenario includes an assumption that spending on activities other than the major mandatory health care programs, Social Security, and interest on the debt will not fall quite as low as under the extended-baseline scenario.

With significantly lower revenues and higher outlays, debt held by the public would grow much more rapidly than under the extended-baseline scenario, reaching levels far above any ever experienced in U.S. history.
 
Quit the double talk Damo. You don't have a fucking clue what I'm talking about or what Wendell Potter is talking about. Here are the FACTS you absolutely refuse to even consider: Your beloved insurance corporations do NOT put patients first. They put THEIR PROFITS first. And if that means denying payments for treatment to critically ill fellow Americans and sending them into bankruptcy or even precipitating their death, it's TOUGH SHIT for the patient. Is THAT is what you are willing to accept Damo?

As far as our debt, the CBO (Congressional Budget Office) SHOWED you the reality. If Congress follows current laws passed by Democrats, which includes implementing cost savings IN the Affordable Healthcare Act and ending the Bush tax cuts, it will put us on the path of the Extended-Baseline Scenario. NOT carrying through with those laws the Democrats passed, which Republicans would do if they gain enough power would put us on the path of the Alternative Fiscal Scenario.

WHICH one would YOU choose Damo?

Federal Debt Held by the Public (Percentage of GDP)
SummaryFigure1_forBlog.png


CBO’s Analysis

The Extended-Baseline Scenario. Under this scenario, the expiration of the tax cuts enacted since 2001 and most recently extended in 2010, the growing reach of the alternative minimum tax, the tax provisions of the recent health care legislation, and the way in which the tax system interacts with economic growth would result in steadily higher revenues relative to GDP.

The Alternative Fiscal Scenario. The budget outlook is much bleaker under the alternative fiscal scenario, which incorporates very different assumptions about revenues: that the tax cuts enacted since 2001 and extended most recently in 2010 will be extended; that the reach of the alternative minimum tax will be restrained to stay close to its historical extent; and that over the longer run, tax law will evolve further so that revenues remain near their historical average of 18 percent of GDP.

This scenario also reflects the assumptions that Medicare’s payment rates for physicians will remain at current levels (rather than declining by about a third, as under current law) and that some policies enacted in the March 2010 health care legislation to restrain growth in federal health care spending will not continue after 2021. In addition, the alternative scenario includes an assumption that spending on activities other than the major mandatory health care programs, Social Security, and interest on the debt will not fall quite as low as under the extended-baseline scenario.

With significantly lower revenues and higher outlays, debt held by the public would grow much more rapidly than under the extended-baseline scenario, reaching levels far above any ever experienced in U.S. history.

If you repeat a mistake often enough people might believe it is true. The CBO numbers do not include the rational acts of companies and individuals.

This again absolutely ignores the road we travel on, we cannot afford to follow Europe into a suicide pact.

The CBO estimates do not include the fact that the fees for not buying it are less than buying it, and that people will not purchase the insurance until they need it. This is absolutely designed to make the companies we need to fix the problem fail thus leading us into the single-payer plan that was the repeatedly declared goal of the Administration. We cannot afford to follow Europe into that suicide pact. This needs to be changed, immensely.
 
I got a better idea, let's send libtards to the third world country, and see if they can't learn to be self-reliant, without a governmental teat in their mouth?
Just put them on the Left Coast, the NE and part of the Midwest, leave the rest of the county up to us Real Americans and cut ties permanently. Heck they can even keep DC.
 
If you repeat a mistake often enough people might believe it is true. The CBO numbers do not include the rational acts of companies and individuals.

This again absolutely ignores the road we travel on, we cannot afford to follow Europe into a suicide pact.

The CBO estimates do not include the fact that the fees for not buying it are less than buying it, and that people will not purchase the insurance until they need it. This is absolutely designed to make the companies we need to fix the problem fail thus leading us into the single-payer plan that was the repeatedly declared goal of the Administration. We cannot afford to follow Europe into that suicide pact. This needs to be changed, immensely.


ACCEPT THIS FACT: America is not Greece, Italy, Spain or any other small economy. The people who are pulling that string with you are being deceitful. AND, austerity will only lead to depression not growth.

ALL that matters to me is that my fellow citizens have health care they can afford and a system that doesn't punish them for getting sick. You CAN'T say that about 'for profit' private insurance. There will ALWAYS be a conflict of interest in a 'for profit' system. The patient wants a healthy outcome for himself and his family. Insurance companies want PROFIT. And when they can find a way to deny paying for treatment, they WILL ALWAYS put profit before a patients health and a patients life.

Insurance cartels have NO ONE to blame but themselves. Too many Americans have been forced into bankruptcy, suffering and death because of corporate GREED.

THAT is unacceptable to me. Is it acceptable to you Damo?
 
tea tards should go to a third world country, they will run back leaving thier down payment.

Tea Partiers are watching their country become a third world country.

Also, many of them don't think there's enough money to fund the drug war, or even constitutional.

So we can't be that bad.
 
Back
Top