Friday, August 5, 2011

S&P Downgrades US, Administration Blames Wrong Thing

S&P says: USA down to AA+ from AAA. Hardly earth-shattering. Hardly a surprise. They warned it would happen if we didn't set a plan in order to get deficit spending under control. We set a plan in order to spend almost exactly as much borrowed money as we were already on track to do, and they downgraded us.

The tools in D.C. said that S&P got the deficit numbers wrong by $2T, and aren't they all just a bunch of doody-heads anyway?

Well at least the economy is in recover and we'll be able to grow our way out of this pretty quickly

...oh, wait.

No comments: