Thought a graphic would help.
Posted on 08/07/2011 8:31:25 AM PDT by _a_0_0_
Dispute Over 'Basic Math' Began With S&P E-MailBloombergThe e-mail message that unleashed hours of debate between US Treasury Department officials and Standard & Poor's arrived at 1:45 pm on Aug. 5, just as US and European stock markets were limping toward the end ...Treasury Hits Back Against S&P DowngradeFox BusinessInvestors to assess U.S. debt downgrade, Fed movesMarketWatchTreasury Disputes S&P Math, Saying Downgrade Doesn't Add UpSan Francisco ChronicleBusinessWeek -Wall Street Journal -CNNall 5,450 news articles »...
US debt is now at 100% of GDP and going higher. You don’t need a Nobel Prize in Economics to know that the US is basically bankrupt and no different than Greece our debt could rapidly become junk bonds.
we remember that little Timmy (and his boss) have a lot of trouble with the basics...
Thought a graphic would help.
Hugh Carey, New York Governor Who Helped City Avoid Default, Dies Aged 92 By Ilin Chen and Laurence Arnold - Aug 7, 2011 11:20 AM ETIt's sort of like Mother Theresa dying just as the abortion industry starts a major expansion.
Hugh Carey, the two-term New York governor who helped New York City avert bankruptcy in 1975 by imposing financial controls and made tough choices to cut taxes and balance the state budget, has died, the New York Times reported. He was 92.
Sorry, can’t open this on my phone. Does this concern the huge ‘rounding error’?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.