Cali_Democrat Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Aug-05-11 09:42 PM
Original message
If the Bush tax cuts were never extended, the US would have never been downgraded
Edited on Fri Aug-05-11 09:44 PM by Cali_Democrat
Credit rating agencies warned about the lack of revenue and it's impact on the deficit when the tax cut extension was brokered late last year.
When the new deficit deal contained no additional revenue, a downgrade became inevitable.
See my post from December of last year.
http://www.democraticunderground.com/discuss/duboard.ph...
This is why you don't follow Republican policies.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1674353Yeah that couple of trillion that you want to suck out of all taxpayers, not just the rich, would have really made a huge difference in our 14.5 trillion deficit.
The fact that the dems spent like crazy has nothing to do with it, it's all them Bush tax cuts.
jeanmarc (1000+ posts) Click to send private message to this author Click to add this author to your buddy list Click to add this author to your Ignore list Fri Aug-05-11 09:44 PM
Response to Original message
1. True, GOP held unemployment benefits hostage to make this happen
You know what DUmmies, the dems held all 3 houses when 0bama compromised and didn't raise taxes on us all.
You would think a sooper genius could have figured out someway to raise taxes before the repukes took over the house, don't get me wrong I'm glad he didn't.
Cali_Democrat Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Aug-05-11 09:49 PM
Response to Reply #2
3. This is not about S&P
It's about absurd tax policies the US has been pursuing for some time now.
If you want to pretend that the Bush tax cuts don't have an extremely negative impact on the deficit, be my guest.
Yet you pretend that spending didn't have an effect. The tax code is absurd just not how you think it is, the rich pay plenty and us not so rich as well.
