Keith, it is one thing to lack knowledge, it is another to openly display ignorance and try to sell it here on SH as a question. "Obama got" is such a grossly stupid spin on the credit
rating change as to be unworthy of conversation here. The credit rating change was 100%
owing to the collapse of 2008 (recall how that happened after 30 years of "Reaganomics"?)
and the anticipation of greatly reduced federal revenues. Now, haven't you anything to say that is factual or interesting?
"Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade."
rating change as to be unworthy of conversation here. The credit rating change was 100%
owing to the collapse of 2008 (recall how that happened after 30 years of "Reaganomics"?)
and the anticipation of greatly reduced federal revenues. Now, haven't you anything to say that is factual or interesting?
"Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade."
http://www.standardandpoors.c...
WHO got the US Credit rating dropped to AA+ again?