US loses Triple A Credit Rating.

[Kasz216]

bannedagain said:

Kasz216 said:

http://www.latimes.com/business/la-fi-us-debt-downgrade-20110806,0,189756.story

 

And some people were blaming the debt ceiling debate.  Truth was, the debt ceiling debate was the only way we had a chance of preventing the downgrade by cutting spending enough... had it not been for that, our credit rating would of been downgraded before we even had a decent debate on spending cuts.

Just more negatives from the stimulus.

It's not spending cuts that need to happen, Ok I agree that the wars need to end. It's the bush tax cuts that Rep. said they needed to create jobs. But here's the real deal. You put the money into people hands that need it and they will spend it. It's simple logic and it will create jobs from demand. The tax breaks and loop holes to the rich are not working. REP. are responsible for about 10 trillion dollars of the debt.

http://www.youtube.com/watch?v=mcJqnmBzor4&feature=player_embedded

 

http://www.youtube.com/thomhartmann#p/u/3/zCEtMQ5wE78

If it was that simple we wouldn't be headed towards a double dip.

Such a statement completly ignores actual people.

People aren't going to spend extra money in a down economy, they're going to save it.

 

As for spending cuts not needing to happen, you need to cut between 4 to 15 trillion in spending over the next 10 years.  Ending the wars wouldn't begin to  come close to that.