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  • Obama: "We Do Not Have AAA Political System To Match Our AAA Credit Rating"

    07/30/2011 12:04:01 PM PDT · by bruinbirdman · 77 replies
    "If we do not come to an agreement, we could lose our country's AAA credit rating. Not because we do not have the capacity to pay our bills. We do. But because we did not have a AAA political system to match our AAA credit rating. Make no mistake, for those who say they oppose tax increases on anyone, and lower credit rating would result potentially in a tax increase and everyone in the form of higher interest rates on their mortgages, their car loans, their credit cards, and that is inexcusable," President Obama said on Friday morning.
  • Budget tricks helped Obama save programs from cuts (spending cuts exaggerated)

    04/12/2011 8:04:55 AM PDT · by quesney · 62 replies
    WASHINGTON – The historic $38 billion in budget cuts resulting from at-times hostile bargaining between Congress and the Obama White House were accomplished in large part by pruning money left over from previous years, using accounting sleight of hand and going after programs President Barack Obama had targeted anyway. Such moves permitted Obama to save favorite programs — Pell grants for poor college students, health research and "Race to the Top" aid for public schools, among others — from Republican knives, according to new details of the legislation released Tuesday morning. And big holes in foreign aid and Environmental Protection...