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Politics : The Obama - Clinton Disaster
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To: Bill who wrote (55341)8/15/2011 11:12:13 PM
From: DuckTapeSunroof1 Recommendation  Read Replies (1) of 103300
 
No.

US debt is not as high as France's per capita. (And they kept France at AAA.)

(So debt alone is NOT the sole reason for the downgrade, as S&P carefully explained MULTIPLE times.)

They also specifically cited the utter refusal of GOP in congress to entertain *any* revenue raises, no matter how good a deal they were offered on spending cuts and no matter HOW much such a deal would have cut the deficit.

And they also specifically cited their belief that the Bush tax cuts would NOT be allowed to expire on schedule, and the harm this would bring to the federal deficits.
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