GOP's 'Fiscal Vandalism and Political Sabotage' Prompts Second-Ever US Credit Downgrade:Republicans were warned that their repeated brinksmanship and deficit-funded tax giveaways for the wealthy and big corporations would have consequences

submitted by bananahammock from commondreams.org

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[–]GuyWhite 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (3 children)

It’s the debt explosion after Xiden took office that has the credit raters attention. Credit raters don’t wait three years.

[–]bananahammock[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

The article and the financial situation in the US is not managed by its President. Congress and the Federal Reserve are responsible for the US budget, interest rate, and debt. Trump era tax cuts primarily for the wealthy (by the Republican-led congress) were funded with borrowed money (from China), to the tune of almost $10 trillion by the time Biden took office. Let me know if you have questions about any specific points in the article.

[–]GuyWhite 4 insightful - 3 fun4 insightful - 2 fun5 insightful - 3 fun -  (1 child)

While consistency is a virtue, there is no virtue in being consistently wrong.

I don’t need your guidance on what to post. Your specific points are cherry picked facts which look silly when put into context.

[–]bananahammock[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

https://saidit.net/s/politics/comments/b9jj/gops_fiscal_vandalism_and_political_sabotage/13f0t