FLASHBACK: Geithner Says No Risk That U.S. Would Lose AAA Rating

FLASHBACK: Geithner Says No Risk That U.S. Would Lose AAA Rating

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  News & Politics

[cardinals07]

We reached a historic revenue high as a percent of GDP in 2000 and almost reached it again in 2006. We do not have a revenue problem. When the economy gets back on track, our revenues will be fine. We are currently spending way more as a percent of gdp than we have in a really long time (WWII). In the past ten years we went from our spending as a percent of gdp changing from about 32% to over 40% (peaked at 42). However, we can't really do anything to the debt until the economy recovers.

[gonnaeatsomecake]

@ClubsOfHearts Ahh, the old straw man argument. At what point in these debt negotiations were Democrats asking for increased spending??? Answer: They weren't. However, they WERE asking for a plan that involved spending cuts AND revenue increases, both of which are an essential part of seriously tackling the debt issue. The tea party would yield nothing on the revenue issue.

[gonnaeatsomecake]

Anyone that thinks that the debt problem can be solved without revenue increases is full of shit. Economists and ratings agencies understand this. The tea party members do not. You don't need a degree in economics to understand this, however you do need an understanding of basic arithmetic.

[JustBecauseTheySaySo]

FIRE HIM!

[JustBecauseTheySaySo]

"the Tea party actually is trying to push the US into as much trouble as possible" Please explain to me HOW lowering special interest spending & not increasing the debt. which is already out of control, would "push the US into trouble". I want details. S&P said quite the opposite. It was the LACK OF cuts & balanced budget on the CHANGED plan that got the downgrade. You don't know jack about our economy if you think that. You're just spitting out what you see on liberal TV.

[JustBecauseTheySaySo]

You can't be that stupid. You DO know that S&P's requirement for maintaining our credit rating was only met by the TEA party play right? They specifically said that there were not enough special interest spending cuts and/or tax increases. Obama said he would VETO anything that crossed his desk that did not give him spending money until next election. While he's busy giving BILLIONS to muslims, you're crying because the TEA party tried to balance the budget. Where's obamas plan

[donna cash]

The President actually stated he would VETO any debt ceiling legislation that did not extend past the next Presidential election! He was the "terrorist". The Tea Party just wanted responsible spending with a balanced budget, which Standard and Poors has now said would have helped MAINTAIN the higher credit rating. It was Obama who lacked the leadership skills to save our credit rating. He was more concerned about going to a campaign party, than he was about the economy.

[gonnaeatsomecake]

He actually thought that the teaparty wouldn't act like terrorists and welcome a default on the nation's debts unless their narrow ideological demands were met!  What a fool!

[Jasper Hamann]

He couldn't have predicted the Tea party actually is trying to push the US into as much trouble as possible.. All those millionaires will be so pleased you good people are sticking up for them so much amd even are willing to give up your own money and public services to make sure they get more and more money...