Koko: S&P Wrist Slap Downgrade–USG Lacks Integrity

Corruption, Government

U.S. Rating Cut by S&P on Deficit Reduction Pact

Bloomberg, 5 August 2011

The U.S. had its AAA credit rating downgraded for the first time by Standard & Poor’s on concern spending cuts agreed on by lawmakers to raise the nation’s borrowing limit won’t be enough to reduce record deficits.

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Koko do math: Cut 1.5 trillion over 10 years; continue to borrow $1 trillion a year, net debt INCREASE $8.5 trillion over ten years.  Congress and the White House have known the Republic is insolvent since then Comptroller General David Walker briefed them to that effect in 2007.

Koko signs: “Reality bats last.”

 See Also:

Restoring Truthiness:  Full Summary Focusing on Irresponsible Governance

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