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S&P Cuts US Credit Rating to AA+
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<blockquote data-quote="klein" data-source="post: 864440" data-attributes="member: 23950"><p>Here is some info :</p><p></p><p>If the world now asks the US to pay only 1% more to lend America money (because of the lower credit rating), it will add up to almost 1.5 Trillion in 10 years and wipe out all the cuts and savings in this new budget deal ! - All for nothing !</p><p>Got to start a new round right afterwards, since this round will only go towards higher interest on debt re-payment !</p><p></p><p>To Moreluck above:</p><p></p><p>Yup, most Tea Party members voted against the deal and wanted a default. Bachmann said it herself openly - let the government default !</p><p>But , she was the first one to blame Obama after the downgrade, too - now, that's a hypocrite !</p><p></p><p>Default on the debt would have made US Treasury bonds look like those Greek Junk Bonds, that pay almost 30% interest in just a 2 year term.</p><p>Forget aa+ rating, more like a C- if defaulted !</p><p></p><p>And I'ld like to see how $4 Trillion it cuts would have went, without cutting most of medicare and SS away !</p><p>Maybe you can afford to pay extra, but not all old ladies and gentlemen are so well off as you.</p><p></p><p>They could have saved 1 Trillion on those tax cuts for the rich - yup , those single and earning over $250K per year, or married and earning over 500K.</p><p></p><p>But, no, something you and the Tea Party are totally against !</p></blockquote><p></p>
[QUOTE="klein, post: 864440, member: 23950"] Here is some info : If the world now asks the US to pay only 1% more to lend America money (because of the lower credit rating), it will add up to almost 1.5 Trillion in 10 years and wipe out all the cuts and savings in this new budget deal ! - All for nothing ! Got to start a new round right afterwards, since this round will only go towards higher interest on debt re-payment ! To Moreluck above: Yup, most Tea Party members voted against the deal and wanted a default. Bachmann said it herself openly - let the government default ! But , she was the first one to blame Obama after the downgrade, too - now, that's a hypocrite ! Default on the debt would have made US Treasury bonds look like those Greek Junk Bonds, that pay almost 30% interest in just a 2 year term. Forget aa+ rating, more like a C- if defaulted ! And I'ld like to see how $4 Trillion it cuts would have went, without cutting most of medicare and SS away ! Maybe you can afford to pay extra, but not all old ladies and gentlemen are so well off as you. They could have saved 1 Trillion on those tax cuts for the rich - yup , those single and earning over $250K per year, or married and earning over 500K. But, no, something you and the Tea Party are totally against ! [/QUOTE]
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