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We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. - S&P Analysis
Ahh it wont allow me to link to the standard and poors site that has the entire article because I dont have 15 posts as of yet :{ Above is an actual excerpt.
The treasonous Tea Party will do whatever it takes to destroy America.
facts like Hairnet's pollaganda saying 80% of Americans want the rich to be taxed more? Those kind of "facts"The Republican HAVE to lie because all the facts are against them.
The Republican HAVE to lie because all the facts are against them.
We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. - S&P Analysis
Ahh it wont allow me to link to the standard and poors site that has the entire article because I dont have 15 posts as of yet :{ Above is an actual excerpt.
The treasonous Tea Party will do whatever it takes to destroy America.
If by America you mean, socialist embedded in the Democratis Party, you are correct.
In Republican's zeal to cut taxes, as Bush did twice, they seem to loose sight of the fact that cutting spending along with the the tax cuts is the way to go. Instead, they hope that tax cuts will stimulate the economy so as to produce enough revenue to cover the tax cuts. This of course didn't happen in the Bush years and we were screwed when the recession of 2008 hit. We had a high deficit, low interest rates, and historically low income taxes leaving the government few options for fighting the recession.According to Government - Historical Debt Outstanding - Annual 1950 - 1999, the debt at the end of the 1980 fiscal year, on September 30th, 1980, was $907,701,000,000. On September 30th, 1981, it was $997,855,000,000. Averaging it out over the year gives a debt of $246,997,260.27 per day.
Reagan took office 112 days later on January 20th, 1981. The debt on that date could be estimated as $907,701,000,000 plus 112 x $246,997,260.27, or $935,364,693,151.
Bill Clinton was the first president to slow the rate of the accrual of debt after the current out-of-control spending began with the Borrow and Spend Republicans in 1981.
The final amount of the senior Bush debt was $4,174,218,594,232.91 (according to Debt to the Penny (Daily History Search Application)), and Clinton became president on January 20th, 1993. Bill Clinton saw $1,553,558,144,071.73 added to the national debt during the eight years of his presidency.
However, from the start of fiscal year 1994 (7 months after Clinton became president), until the start of fiscal year 2002 (7 months after Bush took office), the amount of money paid toward interest on the existing Federal debt was $2,767,282,794,374.59 (Government - Interest Expense on the Debt Outstanding).
Therefore, no amount of the national debt is attributable to Bill Clinton - his policies of higher taxes and reduced spending actually simultaneously reduced the debt and brought about the strongest economy since World War II, despite the fiscal disaster left in the wake of Reagan and the first Bush.
The debt was at $5,727,776,738,304.64 on January 19th, 2001, the last business day before George W. Bush took the office of president. The debt was at $10,628,881,485,510.23 on January 16th, 2009, the last business day before Barack H. Obama became president.
ReaganBushDebt.org Calculation Details
In Republican's zeal to cut taxes, as Bush did twice, they seem to loose sight of the fact that cutting spending along with the the tax cuts is the way to go. Instead, they hope that tax cuts will stimulate the economy so as to produce enough revenue to cover the tax cuts.
The growing surplus exists because taxes are too high and government is charging more than it needs. The people of America have been overcharged and on their behalf, I am here to ask for a refund.
Actually they are both true. But a loser hack like yourself won't see that.In Republican's zeal to cut taxes, as Bush did twice, they seem to loose sight of the fact that cutting spending along with the the tax cuts is the way to go. Instead, they hope that tax cuts will stimulate the economy so as to produce enough revenue to cover the tax cuts.
Remember, however, that the argument that tax cuts will increase revenue only returns when it's convenient. When surpluses seemed to be the order of the day, Republicans sold their tax cuts as a way to decrease revenue:
The growing surplus exists because taxes are too high and government is charging more than it needs. The people of America have been overcharged and on their behalf, I am here to ask for a refund.
Whichever one happens to be most convenient will end up being the justification du jour for tax cuts.
Tax Cuts increase private sector economic activity increasing overall taxation. What may be lost in income tax is more than made up for in consumption taxes and investment taxes, idiot, because people have more money in their pocket to spend!Tax cuts decrease revenue.
Anyone who thinks otherwise is an idiot.
Tax Cuts increase private sector economic activity increasing overall taxation. What may be lost in income tax is more than made up for in consumption taxes and investment taxes, idiot, because people have more money in their pocket to spend!Tax cuts decrease revenue.
Anyone who thinks otherwise is an idiot.
Some do and some don't. The tax cut that gives the most economic bang for the buck is cutting payroll taxes. That's the tax cut Obama proposed and the GOP blocked!!!!!Tax Cuts increase private sector economic activity increasing overall taxation. What may be lost in income tax is more than made up for in consumption taxes and investment taxes, idiot, because people have more money in their pocket to spend!Tax cuts decrease revenue.
Anyone who thinks otherwise is an idiot.
That's the tax cut Obama proposed and the GOP blocked!!!!!
Right, and my point is still valid on that front.Tax Cuts increase private sector economic activity increasing overall taxation. What may be lost in income tax is more than made up for in consumption taxes and investment taxes, idiot, because people have more money in their pocket to spend!Tax cuts decrease revenue.
Anyone who thinks otherwise is an idiot.
That and we aren't talking about a tax cut. We are discussing the continuation of a tax cut, which is not a new cut.
Bush's American job killing tax cuts
The treasonous Tea Party will do whatever it takes to destroy America.
If by America you mean, socialist embedded in the Democratis Party, you are correct.
Socialist?
People who support Social Security, Medicare, and the rich paying taxes at the same rate as the rest of us are socialists?
You really need to do a little research on what socialism is.
We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. - S&P Analysis
Ahh it wont allow me to link to the standard and poors site that has the entire article because I dont have 15 posts as of yet :{ Above is an actual excerpt.
The treasonous Tea Party will do whatever it takes to destroy America.
GOP lawmakers say no to a payroll tax cut extension – CNN Political Ticker - CNN.com BlogsReally? Link?That's the tax cut Obama proposed and the GOP blocked!!!!!
Secondly, If it was blocked, I'd love to see what allegator was in that swamp. Very common practice to attach a deal killer or poison pill to popular legislation to prevent passage or try to sneak one through. Kinda like all the pork loaded into legislation via riders.
Don't think you get to pull that fast one here Edthecretin.