S&P is interested in DEFICIT cuts, not specifically spending cuts or revenue increases. They are also interested in a long-term plan and implementation of that plan to maintain these deficit cuts (which is why the rating usually takes 9-18 years to change back to AAA once lost).Standard & Poor's takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.'s finances on a sustainable footing.
In terms of specific items in the budget, they mention revenues and expenditure almost equally:
In short, they agree Medicare and other entitlements are an issue but in the context of also not having the revenue to cover the anticipated debt. It cuts both ways - it's the balance of payments and not either side.It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.
@Fallakin,
Muslims also believe in the moral teachings of Jesus. I doubt that makes them Christian Deists. Buddhists also fall largely in line with Jesus' moral teachings and would probably object to being called Christian Athiests.
Dd
