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Cigar
09-11-2014, 10:06 AM
Standard & Poor's became the latest agency to downgrade New Jersey's credit rating on Wednesday, the state's eighth such downgrade since Gov. Chris Christie (R) took office in 2010. Last week, Fitch decided to do the same. In its statement explaining the move, S&P directly cited major revenue shortfalls and the governor's decision to reduce pension contributions this fiscal year for the state's public workers.

“New Jersey continues to struggle with structural imbalance and the governor's decision to reduce pension contributions in fiscal 2014 and 2015 highlights the fact that the state lacks the revenues to comply with its own agreed-on contribution to the pension system," the S&P said. "In our view, the governor's decision to delay pension funding, while providing the necessary tools for cash management and budget control, has significant negative implications for the state's liability profile.”

Though the downgrades haven't yet had a significant effect on New Jersey's finances, they do present another threat to Christie's political aspirations, especially at a time when he is trying to burnish his credentials at home and abroad. A tough-talking governor linked to a messy bridge closure is one thing, but a governor who cannot manage his state's finances is another -- as Kansas Gov. Sam Brownback (R) recently discovered.

The downgrade drew criticism from Democrats on Wednesday, who called Christie's administration a "national embarrassment."
“From his failed economic record to his administration’s gross misconduct during Bridgegate, Chris Christie has failed his state time and again," said Democratic National Committee press secretary Michael Czin. "And now, it doesn’t even look like he’s trying anymore. Instead of working with Democrats to solve the state’s long-term problems, Christie’s busy crisscrossing the country campaigning for Republicans who apparently want to emulate his failed leadership.”
.........................more

Read more: http://www.huffingtonpost.com/2014/09/10/chris-christie-credit-rating_n_5799428.html



Can someone please explain to me how Conservative Cut-N-Slash Economic Works?

If you can explain where it works, I'd love to debate it with you. :wink:

Peter1469
09-11-2014, 10:11 AM
Post the states financials as we know what we are talking about. NJ very well might deserve these credit downgrades. The US should be seriously downgraded- anyone who still believes in the full faith and credit of the US is a fool.

Cigar
09-11-2014, 10:18 AM
2013 is all I see - http://www.nj.gov/treasury/doinvest/pdf/AnnualReport/2013AnnualReportStateInvestmentCouncil.pdf


I'm guessing Kansas is following the same Economic Formula http://www.huffingtonpost.com/2014/06/26/sam-brownback-poll-_n_5533515.html

Sam Brownback Faces Blowback On Tax Cuts, Trails Dem Challenger In New Poll

Mac-7
09-11-2014, 10:25 AM
Standard & Poor's became the latest agency to downgrade New Jersey's credit rating on Wednesday, the state's eighth such downgrade since Gov. Chris Christie (R) took office in 2010. Last week, Fitch decided to do the same. In its statement explaining the move, S&P directly cited major revenue shortfalls and the governor's decision to reduce pension contributions this fiscal year for the state's public workers.

“New Jersey continues to struggle with structural imbalance and the governor's decision to reduce pension contributions in fiscal 2014 and 2015 highlights the fact that the state lacks the revenues to comply with its own agreed-on contribution to the pension system," the S&P said. "In our view, the governor's decision to delay pension funding, while providing the necessary tools for cash management and budget control, has significant negative implications for the state's liability profile.”

Though the downgrades haven't yet had a significant effect on New Jersey's finances, they do present another threat to Christie's political aspirations, especially at a time when he is trying to burnish his credentials at home and abroad. A tough-talking governor linked to a messy bridge closure is one thing, but a governor who cannot manage his state's finances is another -- as Kansas Gov. Sam Brownback (R) recently discovered.

The downgrade drew criticism from Democrats on Wednesday, who called Christie's administration a "national embarrassment."
“From his failed economic record to his administration’s gross misconduct during Bridgegate, Chris Christie has failed his state time and again," said Democratic National Committee press secretary Michael Czin. "And now, it doesn’t even look like he’s trying anymore. Instead of working with Democrats to solve the state’s long-term problems, Christie’s busy crisscrossing the country campaigning for Republicans who apparently want to emulate his failed leadership.”
.........................more

Read more: http://www.huffingtonpost.com/2014/09/10/chris-christie-credit-rating_n_5799428.html



Can someone please explain to me how Conservative Cut-N-Slash Economic Works?

If you can explain where it works, I'd love to debate it with you. :wink:


christie is not a conservative.

He's a liberal republican.

Peter1469
09-11-2014, 10:26 AM
Post the states financials as we know what we are talking about. NJ very well might deserve these credit downgrades. The US should be seriously downgraded- anyone who still believes in the full faith and credit of the US is a fool.

Bump.

Never mind. I doubt you have the ability to produce the requested information.

But don't be annoyed if I call you a fraud.

Cigar
09-11-2014, 10:31 AM
It's a real simple question ... where has it worked?

Either it works or it doesn't.

If it works, defending it.

What's the Big Deal?

Peter1469
09-11-2014, 10:37 AM
It's a real simple question ... where has it worked?

Either it works or it doesn't.

If it works, defending it.

What's the Big Deal?

You made a claim about X causing Y.

Prove it. Don't crawfish out of it. Be a man.

Cigar
09-11-2014, 10:41 AM
You made a claim about X causing Y.

Prove it. Don't crawfish out of it. Be a man.


My "opinion" is that Cut-N-Slash Economics don't work.

I have 25 Years of History to look back on as prof.

In your 25 years, where has it worked?

Peter1469
09-11-2014, 10:48 AM
My "opinion" is that Cut-N-Slash Economics don't work.

I have 25 Years of History to look back on as prof.

In your 25 years, where has it worked?

That is fine.

What about spending according to money available? If your predecessors spent 40% over budget, are you obligated to continue that? Can you ever spend only what you take in as revenue? If not, what is you plan for the crash? Or are you just giving people what they want now, and you have a get away plan when they come with the pitch forks and tar and feather stuff to punish you for fucking them over.

hanger4
09-11-2014, 10:48 AM
And the US has been down-graded twice under Obama and hardly a peep. But in NJ it's all Christies fault. To funny.

Mac-7
09-11-2014, 10:54 AM
And the US has been down-graded twice under Obama and hardly a peep. But in NJ it's all Christies fault. To funny.

It probably does have something to do with Christie policies.

but Christie is just a lib in a republican suit and tie instead of the tie dyed shirt and old sandals that the liberal dems wear.

Cigar
09-11-2014, 10:56 AM
And the US has been down-graded twice under Obama and hardly a peep. But in NJ it's all Christies fault. To funny.


Then you agree there was a cause to that effect? :laugh:

Cigar
09-11-2014, 10:58 AM
It probably does have something to do with Christie policies.

but Christie is just a lib in a republican suit and tie instead of the tie dyed shirt and old sandals that the liberal dems wear.


So the solution it to call him a Lib then policies fail ... ?

Brilliant ... the Old Denial Tactic

Mac-7
09-11-2014, 11:13 AM
So the solution it to call him a Lib then policies fail ... ?

Brilliant ... the Old Denial Tactic

They are lib economic policies adopted by a lib in a blue state run by unions.

Cigar
09-11-2014, 11:15 AM
They are lib economic policies adopted by a lib in a blue state run by unions.


What? :huh:

hanger4
09-11-2014, 11:17 AM
Then you agree there was a cause to that effect? :laugh:
Absolutely Cigar, but you have yet to post the financials of NJ to corrobrate the OP as peter asked. BTW is Obama subject to the same "cause and effect" you credit to Christie ??

Cigar
09-11-2014, 11:28 AM
Absolutely @Cigar (http://thepoliticalforums.com/member.php?u=294), but you have yet to post the financials of NJ to corrobrate the OP as peter asked. BTW is Obama subject to the same "cause and effect" you credit to Christie ??

That's right ... but all of Obama's policies are on record and on the books :laugh:

Next

hanger4
09-11-2014, 11:38 AM
That's right ... but all of Obama's policies are on record and on the books :laugh:

Next

hanger4
09-11-2014, 11:42 AM
That's right ... but all of Obama's policies are on record and on the books :laugh:

Next And record shows a credit rating drop. I await your thread condeming Obamas policies.

Cigar
09-11-2014, 11:59 AM
And record shows a credit rating drop. I await your thread condeming Obamas policies.


As usual ... total and complete memory loss.

Recession ... what Recession

Dinner on Inauguration Night was Obama's fault

Match 2009 crash was all Obama's fault

hanger4
09-11-2014, 12:35 PM
As usual ... total and complete memory loss.

Recession ... what Recession

Dinner on Inauguration Night was Obama's fault

Match 2009 crash was all Obama's fault

Funny Americas credit rating. survived the Great Depression but not two years of Obama.

Peter1469
09-11-2014, 01:53 PM
thread fail

Cigar
09-11-2014, 03:25 PM
Are you still have problems finding that Red State who's Cut-N-Slash is working?

texan
09-11-2014, 03:37 PM
Post the states financials as we know what we are talking about. NJ very well might deserve these credit downgrades. The US should be seriously downgraded- anyone who still believes in the full faith and credit of the US is a fool.

If it is all Christies fault then its all Obama's fault as well. You can't have it both ways:

WASHINGTON (AP) — The rating agency Standard & Poor's stunned the world a year ago by stripping the U.S. government of its prized AAA bond rating.

The downgrade of long-term U.S. Treasurys threatened to sow chaos in financial markets, driving up U.S. interest rates, pushing the dollar down, scaring investors away from stocks and into that traditional refuge for the fearful: gold. The Dow Jones industrials dropped 635 points in panicked selling the first day of trading after the S&P announcement.


A year later, S&P's historic move looks like a non-event. Long-term interest rates are sharply lower, the Dow industrials reversed course and is now up more than 1,600 points. The dollar has rallied, and gold prices are down from where they were when S&P lowered the boom.

Rival rating agencies Moody's and Fitch have said they might downgrade the U.S. government's blue-chip rating, too, though neither has followed S&P's lead.
__________________________________________________ __________________________________________________ _

As you can see its a BIG so What?

Peter1469
09-11-2014, 05:17 PM
Tanks Tex. Cigar is running from the thread.

texan
09-12-2014, 11:15 AM
I sure would like to have a real conversation with him instead of the hit and run type. I want to know where he really stands on issues, I can't believe it is straight down a party line.

Cigar
09-12-2014, 12:18 PM
Still haven't seen those Successful Red States :grin:

texan
09-12-2014, 12:25 PM
Thread Fail.

texan
09-12-2014, 12:29 PM
Kansas
http://ksgop.org/wp-content/uploads/2014/06/Success-Gov-3.pdf
Economic Results:
Jan 2011 – May 2014


2nd highest taxed state in region to 2nd lowest


Unemployment rate down from 6.8% to 4.8%: One of the lowest in US


5 months in a row unemployment below 5%


One of the highest labor participation rates


Created over 53,000 private sector jobs



From $876 to $500,000,000 ending balance



7th lowest workers compensation rates in US


Increased hourly & weekly average earnings


Increased share of workers are private sector


Responsible Budget & Expenditures

Reduced the state budget expenditures to match initial revenue decrease from tax cuts.
 FY10: Only $876.05 in the bank and a projected deficit of $500 million --even after tax increases by the prior administration.
 Ended FY13 with a $709 million ending balance
 Paid off all callable bonds.

Cigar
09-12-2014, 12:30 PM
Just say you can't find any Red States where those Conservative Economic Policies actually Work.

Or you can just say Failed Thread ... because you're correct, you can't successfully find a State where those Conservative Economic Policies actually Work.

Thank you for your contribution ... you can not close the Thread :grin:

Cigar
09-12-2014, 12:31 PM
Kansas

Economic Results:
Jan 2011 – May 2014


2nd highest taxed state in region to 2nd lowest


Unemployment rate down from 6.8% to 4.8%: One of the lowest in US


5 months in a row unemployment below 5%


One of the highest labor participation rates


Created over 53,000 private sector jobs

 Record new business filings in 2013: 15,469

From $876 to $500,000,000 ending balance

 18% reduction in executive branch staff
 4th highest rate of construction growth in US

7th lowest workers compensation rates in US

 6th for transportation system quality
 Top 10 for low cost of living
 Most Kansans working in history

Increased hourly & weekly average earnings


Increased share of workers are private sector


Now Forum Rule? :laugh:

texan
09-12-2014, 12:34 PM
I just ended your day bro.

texan
09-12-2014, 12:35 PM
As usual your non repsonse speaks volumes......................game over..........................Next!


Cut & Paste does not = research...........

Professor Peabody
09-12-2014, 12:38 PM
Standard & Poor's became the latest agency to downgrade New Jersey's credit rating on Wednesday, the state's eighth such downgrade since Gov. Chris Christie (R) took office in 2010. Last week, Fitch decided to do the same. In its statement explaining the move, S&P directly cited major revenue shortfalls and the governor's decision to reduce pension contributions this fiscal year for the state's public workers. “New Jersey continues to struggle with structural imbalance and the governor's decision to reduce pension contributions in fiscal 2014 and 2015 highlights the fact that the state lacks the revenues to comply with its own agreed-on contribution to the pension system," the S&P said. "In our view, the governor's decision to delay pension funding, while providing the necessary tools for cash management and budget control, has significant negative implications for the state's liability profile.” Though the downgrades haven't yet had a significant effect on New Jersey's finances, they do present another threat to Christie's political aspirations, especially at a time when he is trying to burnish his credentials at home and abroad. A tough-talking governor linked to a messy bridge closure is one thing, but a governor who cannot manage his state's finances is another -- as Kansas Gov. Sam Brownback (R) recently discovered. The downgrade drew criticism from Democrats on Wednesday, who called Christie's administration a "national embarrassment." “From his failed economic record to his administration’s gross misconduct during Bridgegate, Chris Christie has failed his state time and again," said Democratic National Committee press secretary Michael Czin. "And now, it doesn’t even look like he’s trying anymore. Instead of working with Democrats to solve the state’s long-term problems, Christie’s busy crisscrossing the country campaigning for Republicans who apparently want to emulate his failed leadership.” .........................more Read more: http://www.huffingtonpost.com/2014/09/10/chris-christie-credit-rating_n_5799428.html Can someone please explain to me how Conservative Cut-N-Slash Economic Works? If you can explain where it works, I'd love to debate it with you. :wink:

The US Credit rating was downgraded under Obama, I guess that would make the Obama administration a "national embarrassment.". From his failed economic record to his administration’s gross misconduct during IRSgate, Barack Obama has failed his Country time and again. http://www.tradingeconomics.com/charts/united-states-gdp-growth.png?s=gdp+cqoq&d1=20090101&d2=20141231&mean=true
The mean GDP growth for 5 years of Obama and the Democrats is less than 2%, not much there to write home to Mother about.
http://www.tradingeconomics.com/charts/united-states-gdp-growth.png?s=gdp+cqoq&d1=19810101&d2=19861231&mean=true
The five years from 1981 to 1986 the mean growth rate was almost 4%. One is a recovery, the other is not.

texan
09-12-2014, 12:40 PM
Oh OKAY I will kepp playing:

Wisconsin
Scott Walker
Almost a billion dollar state budget surplus under good guy Republican Gov. Scott Walker. He is proposing a reduction in state taxes to give the money back to the “people who own it.”

texan
09-12-2014, 12:41 PM
My fellow Ohioans,
Ohio and the nation are emerging from one of the worst economic periods in our history. But, we're getting Ohio back on track thanks to fiscal restraint, jobs-friendly policies, reforms to K-12 education, job training and higher education, and help for the most vulnerable Ohioans. Ohio now enjoys a balanced budget, a $1.5 billion surplus, and 250,000 new-private sector jobs.
Continuing that progress means building on the policies that we know work. The 2014 Mid-Biennium Review keeps moving Ohio forward. By thinking outside the box and always looking for new and creative ways to improve how government does business, Ohio is getting stronger—which is good news for all of us.
God bless Ohio!
http://thepoliticalforums.com/images/kasich.jpgJohn R. Kasich
Governor

texan
09-12-2014, 12:46 PM
Oh Look Jerry Brown copied republicans and became a slasher, CNN Money:

When Brown took office in 2011, the state faced a $26.6 billion budget gap (http://money.cnn.com/2011/01/10/news/economy/California_budget_brown/index.htm?iid=EL). To close it, the state slashed spending for schools, the correctional system, health and human services and higher education.
California's general fund spending dropped to $93 billion this fiscal year, down from a peak of $103 billion in 2007-08. The state workforce contracted by more than 30,000 positions. Spending on schools plummeted to $47.3 billion last year, down from $56.6 billion four years earlier. The state limited the time adults could receive welfare cash assistance to as little as 24 months, down from 60 months.


They are on the rebound!

texan
09-12-2014, 12:49 PM
Like I said thread over................................News flash CEEE'Gar. Math is math and when you spend more than you take in you can only do two things mathematically:


1. Reduce your spending to levels that are less than your spending.

2. Then you can work on rebuilding your reveue.

Dah.

texan
09-12-2014, 12:50 PM
next

Cigar
09-12-2014, 12:51 PM
I just ended your day bro.


Want to bet sport :grin:

Cigar
09-12-2014, 12:52 PM
Oh OKAY I will kepp playing:

Wisconsin
Scott Walker
Almost a billion dollar state budget surplus under good guy Republican Gov. Scott Walker. He is proposing a reduction in state taxes to give the money back to the “people who own it.”


Links :laugh:

I know people who live in Wisconsin who know different

texan
09-12-2014, 01:14 PM
Unbelieveable.........................There is a link on the first one.

Wisconsin is common knowledge go look easy.


Do some work for a change instead of cut & paste posting that you don't apply common sense to or research yourself.

On one day you don't read blogs then you lead with a tabloid blog the next.

You lost your original point on this thread. Shifted gears in teh cover up to try and make us go find stuff to prove you wrong again. We did, go do research yourself for a change.

texan
09-12-2014, 01:23 PM
If you want to learn something learn to use this table. As you go chapter to chapter and look at Revenue Wisconsin is kicking everyones ass.

http://www.usgovernmentspending.com/compare_state_spending_2014bZ0an

Cigar
09-12-2014, 01:25 PM
Gotta admit ... he's sure trying hard :laugh:

Peter1469
09-12-2014, 01:34 PM
Just say you can't find any Red States where those Conservative Economic Policies actually Work.

Or you can just say Failed Thread ... because you're correct, you can't successfully find a State where those Conservative Economic Policies actually Work.

Thank you for your contribution ... you can not close the Thread :grin:

Texas