After slapping the US with the first downgrade of the US’s credit rating in several decades, Standard and Poor’s is now being treated by the White House as an enemy, and an arm of the GOP. But it doesn’t take a golf gps watch to figure out why the credit downgrade was enacted.
Taking a bunch of zeros out of the mix, the situation is equivalent to this: the US government is like a family making, say, around $21,000. They have a debt of close to, say, $250,000 to $500,000. And the recent budget cuts are like that family decided to spend about $450 less next year. See how pointless the measly cuts agreed to are yet?
That’s why Standard and Poor’s downgraded the US credit rating, and even in that they were generous. And real family operating like this would have been downgraded long ago, and given a far worse downgrade to boot.
It’s time to stop joking around with budget cuts, whining when a “projected increase” is mildly reduced, but is still an increase. It’s time for real budget cuts, before our national credit rating erodes even further.