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Moonbat, while a healthy dose of skptsiciem might be appropriate in all cases, the TPM chart appears roughly accurate to me. All of the bailouts TARP and Detroit cost approximately $3 Trillion, and virtually all of that already has been repaid back to the US Treasury (I heard/read somewhere that only Chrysler hasn't done so yet, but is expected to do so soon). By contrast, the 2 year extension of Bush's tax giveaways cost a similar amount, also borrowed, and didn't result in quite the same positive results, except for those of us in the investor/oligarch class. If the deficit were such an issue, the Bond Vigilantes would have let us know last year during the rush to extend the tax cuts, rather than now, when Social Security and Medicare are on the block.Standard and Poors did make some headlines last month by warning about the US budget deficit, but S&P Is not the same staid firm that once gained it the respect of Wall Street, even though it does still (mis)use its good name for marketing purposes. My gut feeling is that S&P made that pronouncement more or less in order to attempt to reestablish it's former reputation as a watchdog, rather than as an accurate warning. S&P, now owned by the McGraw (McGraw-Hill) family, has become a political actor more than it should be (look up the McGraw and Bush family connections). It is true that we cannot only borrow and spend, but the motivation behind all of the shouting and scare tactics is mostly about getting the Rethugs back on top, so that they can finally roll us back to the Eighteenth Century. Politics at its finest.
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(VISITOR) AUTHOR'S NAME
Marie
MESSAGE TIMESTAMP
19 december 2014, 02:54:42
AUTHOR'S IP LOGGED
94.204.197.114
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