7/30/11
Quote:
Originally Posted by TracyCoxx
So back to this GRH... The senate is working on a bill that cuts $2 trillion over 10 years. Why? If S&P says we need to cut $4 trillion over 10 years why is the senate trying to cut $2 trillion over 10 years? And why has the senate tossed the only bill so far that does cut at least $4 trillion over 10 years?
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8/6/11
Quote:
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Credit rating agency Standard & Poor's on Friday lowered the nation's AAA rating for the first time since granting it in 1917. The move came less than a week after a gridlocked Congress finally agreed to spending cuts that would reduce the debt by more than $2 trillion -- a tumultuous process that contributed to convulsions in financial markets. The promised cuts were not enough to satisfy S&P.
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And Washington is now acting surprised. Idiots.