Why The US Credit Rating Was Downgraded

This post by Sheldon Richman (ostensibly about the Tea Party raising awareness of our government’s unsustainable spending) points out why the US credit rating was recently downgraded:

*A national debt equal to American GDP

*An unfunded liability of $39 trillion for entitlements

*A budget deficit equal to 40 cents for every dollar spent

*Federal spending equal to 25% of GDP.

Do the Washington elite and their cheerleaders in the media actually think this is an acceptable path?  Unfortunately, yes.

And just how has the US economy been doing during the Bush-Obama spending binge?  Judge for yourself.

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One Response to “Why The US Credit Rating Was Downgraded”

  1. sally Says:

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