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Old 08-09-2011, 08:31 AM
TwinSwords TwinSwords is offline
Join Date: Dec 2006
Location: Heartland Conservative
Posts: 4,933
Default Re: Downgrade (Mark Kleiman & Peter Cohan)

Originally Posted by sugarkang View Post
Peter acknowledged that we got downgraded because we (or the Tea party) didn't cut enough.
Here's what the S&P report actually said. The part you keep omitting is in bold:

We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues
is less likely than we previously assumed and
will remain a contentious and fitful process.
Why do you keep leaving that part out and keep claiming that the downgrade was only because we didn't cut enough?
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