Small Surprise: US/UK Credit Rating in Danger

Moody's is correct. The US cannot indefinitely grow debt at a much faster rate than the economy.

Didn't we do that Under Reagan?

We didn't grow it indefinitely, just eight years.

Clinton gets a lot of credit for balancing the budget, as should the Republican Congress of the 1990s, but Bush I should also get acknowledged for making the first steps to right the chronic deficits. Too bad his son undid his hard work.
 
Moody's is correct. The US cannot indefinitely grow debt at a much faster rate than the economy.

Didn't we do that Under Reagan?

We didn't grow it indefinitely, just eight years.

Clinton gets a lot of credit for balancing the budget, as should the Republican Congress of the 1990s, but Bush I should also get acknowledged for making the first steps to right the chronic deficits. Too bad his son undid his hard work.
Oh yeah, the infamous mandate on balancing the budget. A pity it did not work, but Bush 41 tried.
 
Didn't we do that Under Reagan?

We didn't grow it indefinitely, just eight years.

Clinton gets a lot of credit for balancing the budget, as should the Republican Congress of the 1990s, but Bush I should also get acknowledged for making the first steps to right the chronic deficits. Too bad his son undid his hard work.
Oh yeah, the infamous mandate on balancing the budget. A pity it did not work, but Bush 41 tried.

And he raised taxes.
 

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