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Politics : The Obama - Clinton Disaster
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To: Bill who wrote (55328)8/15/2011 10:43:20 PM
From: DuckTapeSunroof1 Recommendation  Read Replies (1) of 103300
 
In S&Ps downgrade report they cited, as one of the main reasons for their downgrade, their conclusion that Congress would NOT let the Bush tax cuts expire on schedule at the end of 2012... and then they went on at length about the fiscal impact this would have... hugely increasing the federal deficits in the out years and justifying S&Ps downgrade of US's credot rating.

And the CEO of S&P explained this quite fully in the video he released on the Monday following their Friday after-market-close downgrade.

(Bill, you really should get out a bit more....)
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