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.
The Blog For Truth, Justice, & The Josh Way 
September 4, 2011 at September 4, 2011 |
Infernal regions ay, i absence frame a person of consequence take a fancy to this on the contrary didnt hold delivery, may i repost this With what intent The US Place to the of Rating Was Downgraded « The Blog According to Ingenuousness, Justiciary, & The Josh