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Thread: United States loses its AAA Credit rating from S & P

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    No, don't care about the video as it is irrelevant now. My hero doubled GDP, almost doubled govt. revenue, created 17 million jobs and is ranked as one of the top 10 Presidents in history. I gave you the facts about SS and you ignored them as usual. Your agenda is to distort and divert from the Obama record and the thread topic. Just a reminder, Obama inherited a AAA credit rating from Bush.
    So, what? S&P was instrumental in creating the financial meltdown (during Bush's term) by rating toxic mortgaged backed securities as AAA.


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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by winston53660 View Post
    And he increased deficit spending from 2.7% to and average of 4.2%
    Debt under Reagan in 8 ears was less than 50% of GDP, today the debt of 14.5 trillion is close to 100% of GDP. You don't seem to understand the difference

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by pbrauer View Post
    So, what? S&P was instrumental in creating the financial meltdown (during Bush's term) by rating toxic mortgaged backed securities as AAA.
    So what? Obama is the first President in history to have our credit downgraded on his watch due mostly to the 3.7 trillion dollar a year spending that has added 4 trillion to the debt.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Debt under Reagan in 8 ears was less than 50% of GDP, today the debt of 14.5 trillion is close to 100% of GDP. You don't seem to understand the difference

    His debt increase equates to a 11.3 % point increase.

    And guess what....that debt is still being paid on today.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by winston53660 View Post
    His debt increase equates to a 11.3 % point increase.

    And guess what....that debt is still being paid on today.
    I will pay the debt on the 1.7 trillion Reagan had during his term which had a total debt of 2.6 trillion vs. the 14.5 trillion we have today and the 4 trillion Obama has added to it. No wonder Obama has a 39% approval rating and saw a credit down grade 2 1/2 years after he took office. His record is a disaster, nice guy but incompetent.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    I will pay the debt on the 1.7 trillion Reagan had during his term which had a total debt of 2.6 trillion vs. the 14.5 trillion we have today and the 4 trillion Obama has added to it. No wonder Obama has a 39% approval rating and saw a credit down grade 2 1/2 years after he took office. His record is a disaster, nice guy but incompetent.

    It sure would be nice if we didn't have to pay on that debt today. The debt that started kickin the can down the road......

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    I will pay the debt on the 1.7 trillion Reagan had during his term which had a total debt of 2.6 trillion vs. the 14.5 trillion we have today and the 4 trillion Obama has added to it. No wonder Obama has a 39% approval rating and saw a credit down grade 2 1/2 years after he took office. His record is a disaster, nice guy but incompetent.
    Any idea what that $1.7 trillion is compounded over 24 years? It's about $7 trillion assuming an average 6% interest which is the approximate 10 year note yield over that time span. So that's what? Half the national debt?

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by winston53660 View Post
    It sure would be nice if we didn't have to pay on that debt today. The debt that started kickin the can down the road......
    yes, it would be nice so tell me how did Reagan creating a 1.7 trillion dollar debt cause obama to create a 4.0 trillion dollar debt?

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by AdamT View Post
    Any idea what that $1.7 trillion is compounded over 24 years? It's about $7 trillion assuming an average 6% interest which is the approximate 10 year note yield over that time span. So that's what? Half the national debt?
    Not as much as the 4 trillion Obama has generated in 3 years.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    yes, it would be nice so tell me how did Reagan creating a 1.7 trillion dollar debt cause obama to create a 4.0 trillion dollar debt?
    Obama didn't create $4 trillion in debt.

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