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Fred's Boys Let Him Down
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<blockquote data-quote="vantexan" data-source="post: 865031" data-attributes="member: 24302"><p>I'm amazed that people don't get that the party is over. You can't run up over $16,000,000,000,000 in debt, with many, many trillions more in unfunded entitlement liabilities, and not have it all come crashing down at some point. The idea that we can spend our way out of it, or print our way out of it, is foolish, and that's as nice as I can put it. The markets reacted because the compromise that was reached did very little to help the debt crisis. Standard and Poor dropped our rating not because they didn't give the administration more money, but because they showed they weren't serious about reducing our deficit or debt. They've made it clear for sometime that they would reduce our rating if we didn't and did just that. To date, the President has presented no plan and the ones presented by the Democrats pushed spending cuts way down the road while proposing trillions in new spending now. It has to stop somewhere, the sooner the better.</p></blockquote><p></p>
[QUOTE="vantexan, post: 865031, member: 24302"] I'm amazed that people don't get that the party is over. You can't run up over $16,000,000,000,000 in debt, with many, many trillions more in unfunded entitlement liabilities, and not have it all come crashing down at some point. The idea that we can spend our way out of it, or print our way out of it, is foolish, and that's as nice as I can put it. The markets reacted because the compromise that was reached did very little to help the debt crisis. Standard and Poor dropped our rating not because they didn't give the administration more money, but because they showed they weren't serious about reducing our deficit or debt. They've made it clear for sometime that they would reduce our rating if we didn't and did just that. To date, the President has presented no plan and the ones presented by the Democrats pushed spending cuts way down the road while proposing trillions in new spending now. It has to stop somewhere, the sooner the better. [/QUOTE]
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