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Old August 8th, 2011, 01:46 AM
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Lisa Lisa is offline
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Location: Wisconsin....about 100 miles south of the Frozen Tundra and 70 miles east of Camp Randall
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I too hope the downgrade by Standard and Poors will wake people, especially those in the current administration, up. But with the Secretary of the Treasury coming out this weekend and saying that S&P made a huge mistake and blaming faulty math does not bode well for our country. Heads in the sand or arrogance on the part of the current administration? I don't know, but I do know this country is in deep trouble financially..........and the only way to resolve it, imho, is to make drastic spending cuts (do we really need to subsidize ethanol production, etc.) across the board, along with updating the tax code. If you increase taxes (revenue), but don't cut spending, it just will not work. The stimulus packages did not work.......maybe letting some of those large companies fail would have been better for our country........why bail out those that largely contributed to the problem, especially since they have not changed their practices after the bail out.
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