What mystery indeed.
We have run deficits averaging 1.5 TRILLION dollars per year since Obama was elected and he and the Democrats want to spend even higher deficits for the next 10 years.
The country was at a total debt of about 70% GDP from all of American past borrowing in history before Obama took office.
The US is now at a total debt of about 100% of GDP after the Obama and Congressional Democrats spending spree since 2008, and Obama wants to accelerate that spending spree to a total debt to 120% before 2012.
Concern that America might have a bit of trouble with this degree of debt load given our entitlement obligations going forward is a mystery to some. I really want those “some” to go on record so it will be clear who the idiots are that cannot understand this so we don't put them into responsible positions.
What I'm wondering is why? This isn't a sudden turn of events. Is S&P helping Obozo tear down the country or making dammed sure he doesn't get re-elected with a giant poison pill?
Will S&P not get clobbered in this mess or have they used their inside info to short the US?