***BREAKING*** S&P Officially Downgrades US Debt from AAA

[SpockFan]

So reducing the taxes on the wealthy will increase revenues then?

Loophole closing is another way to increase revenue, BTW.

[Anabell M]

The government cannot create jobs.

[junglemonkey0097]

You must be joking. Looks like revenue dropped more than spending increased. And this doesn't even include the oRABetting effect of decreased state spending.



Spending increases in a recession due to automatic stabilizers, and that actually is high school level economics.

[alexa?! :D]

they all inherited it from Reagan. Reagan is the father of debt

[Shinjza]

no need to have a "great financial mind" we're in the predicament we are in now thanks to all the idiots who keep hugging outdated theories while ignoring real life.

this is simple common sense shit with out any political agendas or ties to the outcome.


You can't spend more than you take in without creating a debt. When you increase spending while revenues are decreasing, you are burying yourself. You can't spend your way out of it as some of the retarded economic theories still claim.

[cfoster001]

I wouldnt be surprised if we start seeing our massive defense budget start coming into play in the next few years. We dont have the money but we still have the guns

[setht95]

I know right!

It's not like our economy is ~$16T annually.

[Tenshi_No_Shikatsu]

I'm going to go ahead and blame it on both parties.

[Sahil K]

Doesn't take a 5th grader to understand that if you bring in more revenues that deficit shrinks.