bannedagain said:
binary solo said:
"S&P initially made a $2-trillion miscalculation in its economic projections, which administration officials noticed Friday afternoon when the firm shared its analysis with them before publicly releasing it, said a person familiar with the situation who requested anonymity because of the sensitivity of the matter.
But S&P would not agree to change its rating or take more time to do a new analysis, the person said.
"A judgment flawed by a $2-trillion error speaks for itself," said a Treasury Department spokesperson.
S&P said it agreed to change the economic projections but that it did not affect the ratings decision."
Interesting. You make a $2 trillion dollar error in your calculations and you don't re-analyse your data and have a 2nd thought about the downgrade?
Conservatives won't admit it, but the fact that congress / POTUS have no chance of raising revenues must be part of the reason behind this. The debt / deficit situation is so bad in the USA that merely cutting spending isn't going to be enough. Revenues need to be increased modestly at the same time as spending is reduced. After all, the govt has to both stop (or drastically reduce) borrowing at the same time as having the money to start paying off a bit of debt. You can't do that just by cutting spending or else the spending cuts are going to have to eat into federal spending that no one wants to reduce.
Interesting times. |
You let the bush tax cuts expire and there is 4 trillion of the dollars coming back in. end the wars.
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Actually, it doesn't remotely come close to 4 trillion.
Getting rid of the Bush Tax cuts for the rich, would bring it about... 500 billion... and considering the wars being ended is already figured into the budget.... that would save us zero.
