Standard & Poor's cuts Kansas credit rating, citing Brownback tax cuts

[applegrove]

Standard & Poor's cuts Kansas credit rating, citing Brownback tax cuts

by Hunter at Daily Kos

http://www.dailykos.com/story/2014/08/07/1319860/-Standard-Poor-s-cuts-Kansas-credit-rating-citing-Brownback-tax-cuts

"SNIP.............................


Gov. Sam Brownback has led Kansas into a conservative tax-cut "experiment" with results that could perhaps be compared to the conservative "experiment" in Iraq: chaos and failure to such a dramatic extent that it should rightfully disgrace all involved and discredit the underlying theories involved for approximately forever. You know, if we bothered to keep track of those things.
How bad is it? Bad enough that it's just taken another notch off the state's credit score.


Standard & Poor's Ratings cut the credit score for Kansas to AA from AA+ on Wednesday in another blow to the deep income tax cuts championed by Republican Governor Sam Brownback, who is struggling to keep his post in upcoming elections.

In a report explaining the downgrade, S&P said the Kansas budget is not structurally balanced and described a fiscal situation with very little breathing room. [...]

The agency also has a negative outlook for the state based on more tax cuts scheduled for future years, which it said could further damage the state's finances. It said the state expects receipts to fall by $682.3 million through the end of fiscal 2019 because of the cuts.





..............................SNIP"

[kimbutgar]

1. Yet with the infusion of the Koch money in the upcoming election and the Christofacists in control

Brownback will win re-election because the people are brainwashed to accept the right wing talking points.

But I really hope I am wrong on this one.

[MFrohike]

2. One fraud accusing another fraud of fraud

While I don't disagree that Kansas is in serious trouble, I wonder what S&P would have said if Sammy had tossed them a few hundred grand in fees.

[Thav]

3. How'd they spin this to be Obama's fault?

cuz they will.

[tblue37]

7. Brownback has already said that the problems in Kansa are

all caused by Obama's economic policies.

But other states don't seem to be suffering the same way from Obama's policies, so Brownback's excuses are idiotic.

[ReRe]

9. I seen a clip of him....

.... actually answering a question with exactly those words. It was a long twisted answer, but I knew where he was going and sure enough... Obama! The unmitigated gall! Thief and liar, running for governor, and a former Senator!

Thomas Franks was right: What's The Matter With Kansas?

[onecaliberal]

4. :

BwahahHhHhHhAAAAHAHAHAHHA

[ReRe]

5. Isn't he up for election this fall?

Nonetheless, the election this fall is going to be very interesting to watch. It will prove whether

Kansas as well as the country has learned anything from Congress' recalcitrance in the past 4 years.

[tblue37]

8. Yes, and 100 Republicans have ebdorsed his opponent, Paul Davis, who is the

leader of the Dem minority in the state legislature.

[Major Hogwash]

6. Big deal, Kentucky is pondering whether to build a lifesize Noah's Ark with taxpayers' money!

You would have thought that when they debated building the "Dinosaurs lived on the earth at the same time as man" theme park would have prevented this sort of thing from even being seriously considered, but you'd have been wrong.