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(Reuters) - The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.
"Standard and Poors clearly stated that $4 trillion need to be cut in order to indicate fiscal responsibility and avoid a credit downgrade, and our brilliant leaders could come up with less than half that."
Largely due to the fact TP scared Bohener off Grand Compromise, which did eliminate $4 trillion from deficit. Half ot it via (to use Reagans' term for his 5) "Revenue Enhancements".
Winter Sucks is CORRECT. At least, I wanted to see a public vote on it, with ZERO adders to the bill. Shown on EVERY Network live..with EVERY newspaper publishing on page 1 in large font the voting record by individual.
"Standard and Poors clearly stated that $4 trillion need to be cut in order to indicate fiscal responsibility and avoid a credit downgrade, and our brilliant leaders could come up with less than half that."
Largely due to the fact TP scared Bohener off Grand Compromise, which did eliminate $4 trillion from deficit. Half ot it via (to use Reagans' term for his 5) "Revenue Enhancements".
"Revenue enhancements" would have done little other than encourage more unfunded spending. There were very few meaningful spending cuts in the Boehner/Obama compromise.
"Revenue enhancements" would have done little other than encourage more unfunded spending. There were very few meaningful spending cuts in the Boehner/Obama compromise.
There were few in any of the packages proposed and most were over 10 years and to future spending.
S&P said cut $4 trillion and they refused to do it.
That's the bottom line.
We're no closer today than we were when S&P issued that. If anything we're going the opposite direction with proposed spending bills.
"Standard and Poors clearly stated that $4 trillion need to be cut in order to indicate fiscal responsibility and avoid a credit downgrade, and our brilliant leaders could come up with less than half that."
Largely due to the fact TP scared Bohener off Grand Compromise, which did eliminate $4 trillion from deficit. Half ot it via (to use Reagans' term for his 5) "Revenue Enhancements".
Winter Sucks is CORRECT. At least, I wanted to see a public vote on it, with ZERO adders to the bill. Shown on EVERY Network live..with EVERY newspaper publishing on page 1 in large font the voting record by individual.
You mean more taxes? All that will do is embolden Washington to spend more. We don't have a revenue problem, we have a spending problem.
This is from the actual S&P report itself:
"Compared with previous projections, our revised base case scenario now
assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, (Bush tax cuts to the rich) remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues"
(Reuters) - The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.
soon everyone will be able to pay off all their bills really really fast, as hyperinflation kicks in and you can pay off a home in 1 payday it will go really fast. the downside to hyperinflation will be that even if you can afford to pay all your bills and debt off in 1 paycheck, you probably wont be able to afford even 1 loaf of bread.
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