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Obama Says Deal Has Been Reached to End Debt Crisis
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Obama Says Deal Has Been Reached to End Debt Crisis

  #1 (permalink)
Quick Summary
Obama Says Deal Has Been Reached to End Debt Crisis

President Barack Obama said that Democrat and Republican leaders have reached an agreement to reduce the U.S. deficit and avoid default, but it was not clear if the spending cuts were deep enough to stave off a credit rating downgrade.

More on CNBC...

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  #2 (permalink)
Fortitudo et Honor
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"End" is an inaccurate word.

It's only a delay and kick down the road, which is exactly why S&P and Moody's will probably downgrade us anyway.

If entitlement spending is the problem, then I don't see how this addresses the real, underlying problem.

"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
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  #3 (permalink)
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RM99 View Post
"End" is an inaccurate word.

It's only a delay and kick down the road, which is exactly why S&P and Moody's will probably downgrade us anyway.

If entitlement spending is the problem, then I don't see how this addresses the real, underlying problem.

it is the problem and until enough americans realize that then we will continue to have to deal with it like this.. i love it how they say we have always pay our bills and were not about to stop now, but at 14.5 trillion in the hole, it doesnt sound like anything has really been paid..

boom

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  #4 (permalink)
Fortitudo et Honor
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madLyfe View Post
it is the problem and until enough americans realize that then we will continue to have to deal with it like this.. i love it how they say we have always pay our bills and were not about to stop now, but at 14.5 trillion in the hole, it doesnt sound like anything has really been paid..

boom

Not only that, Americans are too dumb to realize that the "cuts" they speak about aren't even cuts. We're still going to be adding to the debt...just not as much as "projected."

They haven't "cut" anything, that just haven't increased it as much as they wanted. Brilliant.

The only way Americans will learn is through catastrophe...unfortunately our own.

If you're under 50, I'd start preparing yourself for the realization that your social security benefits will either NOT be there by the time you retire....OR, if they are there, the $ will be so worthless and deflated that the checks will barely be worth the paper they're printed upon.

"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
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