I didn't pick up a gun when Reagan, Bush, Carter, or Bush II ran up the deficit - not likely to do it now, although I will makes sure elected officials understand that I don't like deficits and I'm gonna try to convince as many people as possible to vote for candidates who are fiscally responsible pay-go types.
In terms of IF the government of the United States of America is "outsourced" then I would not consider resistence an assault against the United States of America - we could get the aliens we befriend to help us out.
Anyone got anything a little more plausible?
No one has done what Obama has done, we are about to lose our
AAA credit rating ,That will cause the interest on the debt to increase, we will not be able to pay the debt and run the country , This will cause hyper inflation and a likely repudiation of the debt, causing a global collapse .
The solution with be global government .
Do worry you wont have to wait very long to find out if Im right tor wrong.
We are not "about to" lose the credit rating. That warning has been there since the deficit reached over a trillion last year. Which isn't to say we should just let it slide further, but I continue to believe smarter people than you and me are not just aware of that danger but will ultimately do something about it.
Reducing deficit key to U.S. rating: Moody's
Thu Oct 22, 2009 4:28am EDT
HONG KONG (Reuters) - The United States, which posted a record deficit in the last fiscal year, may lose its Aaa-rating if it does not reduce the gap to manageable levels in the next 3-4 years, Moody's Investors Service said on Thursday.
The U.S. government posted a deficit of $1.417 trillion in the year ended September 30 as the deep recession and a series of bank rescues cut a gaping hole in its public finances. The White House has forecast deficits of more than $1 trillion through fiscal 2011.
"The Aaa rating of the U.S. is not guaranteed," said Steven Hess, Moody's lead analyst for the United States said in an interview with Reuters Television.
"So if they don't get the deficit down in the next 3-4 years to a sustainable level, then the rating will be in jeopardy."
Moody's has a stable outlook on the U.S. rating, which indicates a change is not expected over the next 18 months.
Earlier this year, financial markets were spooked by concerns about the risk of the United States losing its top rating after Standard & Poor's revised its outlook on Britain to negative from stable, indicating the risk of a downgrade.
Hess said that reducing the budget deficit would be a challenge.
"Raising taxes is never popular and difficult politically so we have to see if the government can do that or cut expenditure," he said while adding it would be tough to reduce expenditure.
Reducing deficit key to U.S. rating: Moody's | U.S. | Reuters