Re: US Credit Rating Downgraded
hariḥ oṁ
~~~~~~
namasté
This down grade is like a student receiving an A+ on a term paper... then the paper is reviewed and after further review the student is given only an A. That is like taking an AAA rating to AA+.
There are 2 more agencies Moody’s and Fitch , and they are keeping their AAA rating for the USA. So , what does this say?
It says the S&P is firing a shot of warning. It is saying we're watching, get your house in order. Both Moody’s and Fitch have a wait and see approach, that could in fact erode over the next few months. Next check period is November.
IMHO the down grade, if it went from AAA to say a B rating, you would have the administration's undivided attention. What is missing to keep a AAA rating? In my estimation 4 things:
1. A Congress that can work for the common good ( today I rate them at C-).
2. A growing economy or GDP - the USA is sluggish (1.3% annualized) and has been for some time.
3. The ability to curb one's debt - today the USA is on the hook for $14 trillion dollars. In anyone's book that number is beyond huge. This is spending beyond one's means... I ask you, can you do this at home? Perhaps so, but for how long until the debt crumbles your way of life.
4. The ability to curb one's debt is to manage all of the programs that the government is managing - I am of the opinion there is too much government at the Federal level and more should be managed by the states.
praṇām
यतस्त्वं शिवसमोऽसि
yatastvaṁ śivasamo'si
because you are identical with śiva
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