So leading investment agency Moody's comes out and tells us today that the U.S. government's top credit rating is under review for a potential downgrade.
As if we didn’t already know there’s a political stalemate going on over increasing the nation's borrowing limit so that the United States can further wallow in debt. Please, it’s not like Obama isn’t holding a press conference every ten minutes on the subject while simultaneously threatening the military and elderly, Social Security checks and the rest of America for being too stupid to know better. America, this is called strategic dependency on government plain and simple. Just watch this quick news clip and then revisit your comfort level with this abject administration.
To add more salt to America’s wounded economy, Moody’s goes on to say: “The review of the U.S. government's bond rating is prompted by the possibility that the debt limit will not be raised in time to prevent a missed payment of interest or principal on outstanding bonds and notes. As such, there is a small but rising risk of a short-lived default.”
Will we really miss an interest or principal payment on August 2? Obama and his dream team are certainly ginning up the Social Security and military threats. More than $70 million in SS checks not sent out if we don’t go further into debt? You mean to tell me the Social Security trust fund, which U.S. citizens have been paying into since 1937, won’t be prepared to payout what it owes Americans next month?! I realize SS is likely going way in the near future if not fixed, but to threaten American citizens because you can’t spend more money that you don’t have is indubitably insane. Could this be Obama’s GOTSV “Get Out the Senior Vote” campaign?
So what if the United States under Obama’s leadership increases its risk of a first-ever default or even goes into default. Ouch, you mean we might have to balance the budget? People, the threats to Americans are getting uglier because both sides of the aisle are getting more desperate by the hour. This is primarily because Americans are listening and watching, watching closer than ever before and making politicians squirm. Balancing the Federal budget and living within your means is no different than managing personal finances, just exponentially bigger and very unwieldy at the moment.
If we do default on August 2, which isn’t likely, it becomes Obama’s Albatross and no one else’s for not listening to what 69% of what American want: lower debt and a smaller, less tyrannical government that listens to its citizens. As Michelle Bachmann and other commonsense GOP conservatives are stumping publicly now, there is no reason for the U.S. to default on its loans when all the Fed has to do is pay down interest. The bigger consequence if the debt ceiling remains fixed is that the U.S. might not be able to continue its global borrowing spree. No more limitless credit cards for Uncle Sam. The Fed must start leading by example to get its own house in order and get back on track with Americans to achieve trust, growth and sustainability (my "Green" term of the day).
When the POTUS stands at the press corp. podium and tells reporters such as CBS News’ Chip Reid that the citizens of the most exceptional nation on Earth shouldn’t be bothered with silly things like understanding the consequences of treasury auctions gone wild, that’s when you know the time has come for change. Just hoping McConnell and Boehner have the respective backbones to get it done right because 2012 is a lot closer than you think.
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