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S&P Cuts US Credit Rating to AA+
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<blockquote data-quote="island1fox" data-source="post: 864146" data-attributes="member: 4816"><p>bbsam,</p><p>We are a consumer economy --like it or not .</p><p>Removing four to five percent from all peoples pockets will obviously put a further crunch on spending.</p><p>No spending-no buying-no products used or produced--no products to deliver ---more layoffs --less jobs --less revenues collected by government.</p><p>This is not rocket science.</p><p>Obama had a chance to end this three years ago. The trillion dollar stimulous should have created a tax holiday across the board for twelve months. The taxes you would have paid would have been spent across the entire economy --not given to unions and special interest groups to keep public employees temporarily employed. Now the money is gone and the only shovel ready job that was completed was to dig a much deeper hole for us to get out of .</p><p>Welfare, excuse me entitlement programs must be reigned in. We have developed generations of bottom feeders that do not pay any federal tax.</p></blockquote><p></p>
[QUOTE="island1fox, post: 864146, member: 4816"] bbsam, We are a consumer economy --like it or not . Removing four to five percent from all peoples pockets will obviously put a further crunch on spending. No spending-no buying-no products used or produced--no products to deliver ---more layoffs --less jobs --less revenues collected by government. This is not rocket science. Obama had a chance to end this three years ago. The trillion dollar stimulous should have created a tax holiday across the board for twelve months. The taxes you would have paid would have been spent across the entire economy --not given to unions and special interest groups to keep public employees temporarily employed. Now the money is gone and the only shovel ready job that was completed was to dig a much deeper hole for us to get out of . Welfare, excuse me entitlement programs must be reigned in. We have developed generations of bottom feeders that do not pay any federal tax. [/QUOTE]
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