This "bogus" downgrade
I don't know why this is a big surprise for Obama.
The statements from S&P where clear and solid:
18th of April:
"In 2003-2008, the U.S.'s general (total) government deficit fluctuated
between 2% and 5% of GDP. Already noticeably larger than that of most 'AAA'
rated sovereigns, it ballooned to more than 11% in 2009 and has yet to
recover."
"Optimistic" scenario - net general government debt would reach 84% of GDP by 2013.
Are you saying USA got a "debt reduction plan??"
That's completely bogus statement:
2.1 trillion reduction "over 10 years" means government will owe more 14 trillion over 10 years, not 16 as was initially planned.
Now the Tea Party is blamed by the leftists (both from rep. and dem. side) for this downgrade.
I would ask them why they voted for the budget during last 10 years?
This holds true for any vote for any USA budget during last decade.
But most amazing thing for me is how it is possible for Obama to teach the S&P about "math errors".
This is real "change" for USA, as promised, and it is a shame, I think.
The statements from S&P where clear and solid:
18th of April:
"In 2003-2008, the U.S.'s general (total) government deficit fluctuated
between 2% and 5% of GDP. Already noticeably larger than that of most 'AAA'
rated sovereigns, it ballooned to more than 11% in 2009 and has yet to
recover."
"Optimistic" scenario - net general government debt would reach 84% of GDP by 2013.
Are you saying USA got a "debt reduction plan??"
That's completely bogus statement:
2.1 trillion reduction "over 10 years" means government will owe more 14 trillion over 10 years, not 16 as was initially planned.
Now the Tea Party is blamed by the leftists (both from rep. and dem. side) for this downgrade.
I would ask them why they voted for the budget during last 10 years?
This holds true for any vote for any USA budget during last decade.
But most amazing thing for me is how it is possible for Obama to teach the S&P about "math errors".
This is real "change" for USA, as promised, and it is a shame, I think.