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Originally posted by Xtrozero
Originally posted by Annee
Originally posted by Xtrozero
Basically what I'm saying is Bush was spending 330b more than he should even if we count two wars. Obama is spending 1.4t more than he should. Obama wants to tax the American people few more TRILLION per year to make up his HUGE and I mean Huge spending that at this point is of out of control.
Are Obama's expenses a direct result of the debt America is in because of Bush's wars?
War expenses that are not listed as part of Bush spending?
I would say no for the mere fact that Obama doesn't blame his spending on Bush's wars.
Nearly half of Americans incorrectly think President Obama started the the bank bailout program, otherwise known as the Troubled Asset Relief Program (TARP), a new poll shows.
Originally posted by CaDreamer
‘AAA’—Extremely strong capacity to meet financial commitments. Highest Rating.
‘AA’—Very strong capacity to meet financial commitments.
‘A’—Strong capacity to meet financial commitments, but somewhat susceptible to adverse economic conditions and changes in circumstances.
‘BBB’—Adequate capacity to meet financial commitments, but more subject to adverse economic conditions.
‘BBB-‘—Considered lowest investment grade by market participants.
‘BB+’—Considered highest speculative grade by market participants.
‘BB’—Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions.
‘B’—More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments.
‘CCC’—Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments.
‘CC’—Currently highly vulnerable.
‘C’—Currently highly vulnerable obligations and other defined circumstances.
‘D’—Payment default on financial commitments.
Note: Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.
Originally posted by sonofliberty1776
Asked who was to blame, Chambers said, "This is a problem that's been a long time in the making -- well over this administration, the prior administration."
Originally posted by HunkaHunka
So today I wake up to read about the downgrade in our credit rating...
And I was very surprised to read the following
"The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics," S&P said Friday shortly after markets closed.
So the S&P and other credit rating agencies sit in judgement of our congress... so there IS in effect a Global Test...
Now the representative from the S&P goes on to point out specifically one of the issues that greatly contributed to the downgrade.. and it's the Bush Tax cuts...
He pointed to the decision by Congress about whether to extend the 2001 and 2003 tax cuts as one crucial area. "If you let them lapse for the high-income earners, that could give you another $950 billion," he said.
You see Republicans... we do NOT live in a vacuum where we can do whatever we want... there IS a global test... one that we are now very painfully aware of....
Hopefully moving forward we will realize that there are consequences to our actions in the eyes of those who judge us and have the power to make that judgement a global and economic reality.
And for those who still believe it's Obamas policies... listen to what the S&P says..
Asked who was to blame, Chambers said, "This is a problem that's been a long time in the making -- well over this administration, the prior administration."edit on 6-8-2011 by HunkaHunka because: (no reason given)