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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: RMF who wrote (41970)	3/11/2010 5:47:03 PM
From: TimF	Read Replies (1) \| Respond to of 71588

Tim, on this post you're wrong again as to the SERIOUSNESS of our current position. Not in any way that you have shown, specifically not in terms of the depth of the current recession. There is a possibilty that United States of America debt paper could be DOWNGRADED. That could happen even with robust growth. Its an aspect of reckless spending and deficits, not the recession (sure the recession pushes deficits up more, but any downgrade still isn't a measure of the recession). And a downgrade won't happen if we get a control on spending. Of course that's a HUGE if, but at the moment federal interest rates are low, the US government's debt is (rightly or wrongly) considered a safer place to park money than many alternatives. Really the debt issue isn't relevant to my points. It says nothing about the depth of the recession, or about Obama having a lot of responsibility for future deficits (and no, this isn't a whitewash of Bush, who also has a lot of responsibility, since he expanded entitlements with Medicare PartD, didn't try to reform Medicare or Medicaid, and failed miserably with his attempts at Social Security reform, while also increasing non-entitlement spending by a lot).