Reply to US credit worthiness downgraded yet again

Forum Index » Political Discussion

Reply to "US credit worthiness downgraded yet again"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]So funny to read these comments from the Fox News/MSNBC viewing crowd that have been duped into thinking everything wrong with this country is the fault of the evil other side. Our Federal Government has been in decline for decades as a result of being run by two failing political parties. It is what it is. Take the goggles of political bias and off and see the truth for what it is.[/quote]

NP...   How about reading the ACTUAL WORDING from Fitch's statement

[quote]Erosion of Governance: In Fitch's view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025. The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management. In addition, the government lacks a medium-term fiscal framework, unlike most peers, and has a complex budgeting process. These factors, along with several economic shocks as well as tax cuts and new spending initiatives, have contributed to successive debt increases over the last decade. Additionally, there has been only limited progress in tackling medium-term challenges related to rising social security and Medicare costs due to an aging population.[/quote]

"Erosion of Governance: In Fitch's view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025. The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management. In addition, the government lacks a medium-term fiscal framework, unlike most peers, and has a complex budgeting process."

That's all on Republicans and their intransigence, and holding the government hostage

Continuing,

"These factors, along with several economic shocks as well as tax cuts and new spending initiatives, have contributed to successive debt increases over the last decade. Additionally, there has been only limited progress in tackling medium-term challenges related to rising social security and Medicare costs due to an aging population."

Tax cuts - all Republican.  New spending initiatives - both Democrat and Republican.  Limited progress on tackling social security and medicare - also due to Republican intransigence, unless you think screwing over the elderly and the disabled and being the only modern industrialized nation to do so is somehow a good thing.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics