Quote:
Originally Posted by PornoMonster
EVERY SIDE SPINS EVERYTHING
Just because you put FACT on something isn't true.
We will take ONE of your examples the Credit rating.
Go read it yourself and even use your own Logic. You do not get a better credit rating by having MORE debt, LOL
"The downgrade to AA+ occurred four days after the 112th United States Congress voted to raise the debt ceiling of the federal government by means of the Budget Control Act of 2011 on August 2, 2011."
"S&P considered the government budget deficit of more than 11 percent of gross domestic product (GDP), and net government debt rising to about 80 percent or more of GDP by 2013, to be high relative to other "AAA" countries.[9] According to S&P, meaningful progress towards balancing the budget would be required to move the U.S. back to a "stable" outlook.[4] The S&P press release stated: "We believe there is a material risk that U.S. policymakers might not reach an agreement on how to address medium- and long-term budgetary challenges by 2013; if an agreement is not reached and meaningful implementation is not begun by then, this would in our view render the U.S. fiscal profile meaningfully weaker than that of peer 'AAA' sovereigns."
http://en.wikipedia.org/wiki/United_...owngrade,_2011 |
Had the debt ceiling been raised, the AAA credit rating would have stayed.
From your own quoted page:
Quote:
In June, Moody's followed suit, warning that if Congress did not quickly raise the debt ceiling above $14.3 trillion, the agency might reduce the debt rating. Moody's also commented on the political process, warning that the heightened polarization on both sides increased the risk of a default.[1] On July 14, 2011, S&P issued a research update putting the U.S. debt on a 90-day CreditWatch.[11]
On July 16, 2011, Egan-Jones Rating Company, a smaller CRA, cut its rating from AAA to AA+, the first NRSRO to do so.[12]
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Don't pretend that this was the first time the debt ceiling was raised... it's been raised continuously over the years (more than doubling with George W.). But, suddenly with Obama in office Congress doesn't want to raise it again?
