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A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.
Officials reasons given will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.
What was the reason they gave, for threatening to downgrade us? It was 0bama's runaway federal spending, and debt accumulation.
What did 0bama do about it? He signed a bill to raise the amount of debt for the nation, and started engaging in hundreds of billions in deficit spending.
What was the reason they gave, for threatening to downgrade us? It was 0bama's runaway federal spending, and debt accumulation.
What did 0bama do about it? He signed a bill to raise the amount of debt for the nation, and started engaging in hundreds of billions in deficit spending.
The blog says S&P will say we don't have a commitment to get out of debt because the GOP refuses to raise revenues. We shall see...
If this is what it takes to make Congress understand the error of its ways. Maybe it will influence the electorate to take the action necessary to elect a Congress that will reduce government and federal spending.
The blog says S&P will say we don't have a commitment to get out of debt because the GOP refuses to raise revenues. We shall see...
Let's say we raised revenue by increasing the taxes by 5% on the wealthy, who earn $1 million or more each year, that may net us an extra $5 billion more a month, big whoop, 0bama spends that much in about a day of deficit spending.
It's all going according to plan, its not as if 0bama does not know he is spending more then we can possibly pay for, even with draconian tax increases.
The economy's GDP shrank by about 30%, and 0bama added about 30% to the federal budget's baseline spending, its a disaster in the making, and he is purposefully doing it for some unknown reason, what the hell is that reason?
Govt official: US expecting S&P downgrade - Political Punch A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.
A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.
Officials reasons given will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.
If this is what it takes to make Congress understand the error of its ways. Maybe it will influence the electorate to take the action necessary to elect a Congress that will reduce government and federal spending.
When the credit card interest rates go up, the dems will point outward, and the media will follow... all the time never telling us the truth, that this is all the fault of their policies. If they had accepted the Cut, Cap and Balance plan in the senate, we would not be looking at a interest rate hike.
0bama wants inflation, its the only way he can pay off this debt, by using inflated dollars. He does not care if we all suffer.
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