hypocritexposer
Well-known member
Need to cut the deficit by $400-500 billion, immediately? Which would still put it about $500 Billion over the Bush deficits......
....is there still any doubt that the Democratic spending is the issue?
Even without the "Bush tax cuts", the additional revenue would not have compensated for the "obama deficit spending"
edited to include correct link
http://finance.townhall.com/columnists/johnransom/2011/07/29/bernanke_to_bail_out_obama_debt
....is there still any doubt that the Democratic spending is the issue?
Even without the "Bush tax cuts", the additional revenue would not have compensated for the "obama deficit spending"
The credit agency S&P intervened in the showdown between the GOP and the GOP today to remind participants that the issue is debt, not the debt ceiling.
Standard & Poor's President Deven Sharma appeared before a House subcommittee overseeing credit agency ratings and had this to say:
"The more important issue is really the long-term growth rate of the debt … as well as the deficit," Sharma told a House Financial Services subcommittee according to the LA Times.
The head of the rating agency said they S&P thought that the U.S would not default on its debts. But he also reminded everyone that even if the country gets clear of the debt ceiling issue, a credit downgrade, which could cost the country hundreds of billions of dollars annually in interest payments, is all but assured without at least a $400 billion per year cut almost immediately.
edited to include correct link
http://finance.townhall.com/columnists/johnransom/2011/07/29/bernanke_to_bail_out_obama_debt