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Originally Posted by smc
Quote:
Originally Posted by TracyCoxx
Quote:
Originally Posted by smc
I would be interested to know why everyone seems to buy the line that the "massive deficit" is somehow a problem of earth-shattering importance.
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well our credit rating was downgraded, so there is that. |
The United States carried the top credit rating throughout the entire period of running deficits, regardless of whether it was under a Republican or Democratic administration. |
My statement was in response to you wondering why a "massive deficit" is an earth-shattering problem. It was not in response to you merely stating that we have just any deficit or that a certain party is in power.
Quote:
Originally Posted by smc
The rating was downgraded because, as Standard & Poor's made clear, there is no ability in Washington to get anything done.
The statement read that the downgrade was based on the "current level of debt, the trajectory of debt as a share of the economy, and the lack of apparent willingness of elected officials as a group to deal with the U.S. medium term fiscal outlook."
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Agreed