Re: S&P downgrades US credit rating from AAA

[Guest guest]

There it is right there. Many are howling that the Republicans didn't raise taxes, but the real issue is spending. S & P knows that it is the spending that is the real problem. Any sensible person will know that if you give a politician one dollar, they will spend it and three more besides. Even if the Republicans agreed to a 100% tax on the top earners it wouldn't come close to paying the debt even for a few days.

What also hurt the economy was that in July alone, government issued over 600 new regulations. 600 in just one month. No wonder business is paralyzed when regulations are coming at them at that kind of rate. That's helping to depress the economy and making the budget situation worse since revenues are lower.

They really should just freeze government at current levels. Don't bother fighting about cuts and all that political theater, just freeze government at its 2010 size and 2010 regulations. Freeze it for several years, at least 5. The economy would begin to recover as business could plan again and also when the disrupting influence of federal contracts and handouts faded from the system, the civilian economy would begin to improve and that would make things better for everyone.

In a message dated 8/6/2011 12:52:58 A.M. Eastern Daylight Time, no_reply writes:

The promised cuts were not enough to satisfy S & P.