Only the national debt was stimulated. President Obama achieved the historic downgrading of America's credit rating the old-fashioned way. He earned it. He came into office with federal spending already near an historic peak, with a percent of GDP at 20.7 percent and having increased by one-seventh during the Bush years. One year earlier Bush had joined with then House Speaker ... MOREPeter Ferrara: Obama Downgraded, Tea Party Vindicated
Only the national debt was stimulated. President Obama achieved the historic downgrading of America's credit rating the old-fashioned way. He earned it. He came into office with federal spending already near an historic peak, with a percent of GDP at 20.7 percent and having increased by one-seventh during the Bush years. One year earlier Bush had joined with then House Speaker ... MORE