The “cuts” were measured against a baseline of 8% per year growth in spending. That is absurd.
If Congress had simply frozen spending for ten years, that would have been called a $9.5 trillion cut!?!?!?
Instead, Congress cut about $20 billion (less than half a percent of spending, and less than a tenth of a percent of the debt) this year, and called that a $2 trillion cut (measured against that ridiculous baseline, over ten years). That’s what the downgrade is all about.
Bush’s over-reaction to 9/11 (DHS and two wars) started the ball rolling. TARP accelerated it. Obama added trillions of stimulus, the huge costs of Obamacare, quadrupled the troops in Afghanistan and started the fight with Libya (a third war). Bush was Hoover, and Obama is FDR, leading us into the second Great Depression.
Left wing, right wing, same dirty bird in Washington!