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 | US AAA Downgrade: S&P’s Not $2 Trillion Math Error Posted by Merlin Jetton on 8/08, 1:23pm | |
| The Department of Treasury says the S&P 500 downgrade of U.S. Treasury debt was based on a "basic math error." Just the Facts: S&P's $2 Trillion Mistake. LOL. The Treasury Department believes it can spin future contingencies into facts! The alleged error was merely a different assumption about the projected growth of discretionary spending, and most of the difference is for the year 2015 and beyond! To add some perspective: The CBO projects Treasury debt to be at $18.253 trillion at the end of 2021 (page 2 here). So the Treasury Department is quibbling over something like $18.253 trillion versus $20.253 trillion 10 years from now! | ||
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