Lowering the United States' Credit Rating Might Be the Only Way to Stop The Socialist Spending?
United States
Most folks are shocked that the US will be losing its Triple-A credit rating, but the reality is that the United States should've lost its stellar credit rating long ago. The path we are on towards socialism is completely to use a socialist buzzword; "unsustainable" - and we are racing towards a dead end cliff. Lowering the credit rating will make it cost much more to borrow money, and that will be bad for the United States treasury, but it might also keep Congress from spending more money due to the cost of the money that they borrow.
If Congress stopped spending borrowed money that would be good for the American taxpayer in the future, and better in the long run for the fiscal health of our country. Not long ago, there was a debate on Fox news TV, and one of the commentators stated; "the economy, is now officially going nowhere." In fact, our GDP growth numbers were restated, after they'd been recalibrated from the second quarter of 2011. It also appears we've had a double dip on our unemployment numbers. The Democrats and Republicans are arguing over whose fault it is politically for hitting the debt ceiling, or causing this artificial crisis from the artificial debt ceiling limit in the first place.
The reality is that the United States doesn't deserve a stellar credit rating, but the rating agencies have been letting them get by without lowering that rating, in actuality they should've lowered it a long time ago. It turns out that the GDP growth in the second quarter of 2011 was only 1.3%. Of course those are the official government numbers, and who knows what the reality is, because often those GDP growth numbers are off by ± 1%. In other words there may have been no growth at all, which is basically what the numbers are showing now.
President Obama wants to raise taxes, but he doesn't want to raise taxes on everyone, just people that make a lot of money. However raising taxes on those who provide jobs such as all the small business people will only cause fewer jobs created, fewer businesses expanding, and slow growth at an even worse rate moving forward. That will get us out of the recession, meanwhile the federal government needs to stop spending on all these entitlement programs or allow them to grow and continue to balloon out of control.
Personally, I believe the credit rating agencies will lower the United States' credit rating regardless of whether Congress gets its act together and figures out as a negotiated deal on the debt ceiling limit. Indeed I hope you will please consider all this and think on it.
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