On The O'Reilly Factor tonight, Bill asked how much more warning was needed to alert the American public of the potential of an economic disaster?
I HAVE BEEN ASKING THE SAME QUESTION! On November 29, 2010 I concluded the seventh in a series of blogs relating to this very subject. I have blogged on this subject constantly since, including the blog of April 7, 2011 where I cautioned against constantly expanding our debt by using worthless paper money, citing the hyper inflation of Germany leading to WWII.
I've pointed out our President's response of increasing taxes on the rich, which is not only wrong but is also foolish as an answer.If Obama took every cent of the rich's income, it still would not resolve our debit crisis! BTW, HE CONSTANTLY IGNORS THE 47% OF AMERICANS WHO PAY NO TAXES choosing to send them money instead.
RETIRED FOR 20 YEARS, LIVING ON PENSIONS AND SOCIAL SECURITY, I STILL PAY TAXES, but thats besides the point, right?
A blunt warning has been issued by Standards & Poor, S&P, probably the most trusted credit-rating source in the world, that the failure to face the mounting U.S. debt by it's leaders has forced the down grading of America's debt rating from STABLE to NEGATIVE, leaving their bond rating at AAA. Only Japan has more debt and only Spain has a NEGATIVE rating.
YOU MIGHT EQUATE THIS TO LIVING ON CREDIT CARDS AND BEING NOTIFIED THAT YOU HAVE LOST YOUR CREDIT BECAUSE YOU ARE MAXED OUT!
How important is this? The day America's credit was downgraded the American Stock Market plummeted some 140.24 points, a 1.14% drop, it's largest decline in a month. Japan's market declined another 1% over and above it previously drop from it's disasters, while markets in Britan, Germany and France doubled that decline to over 2%. GOLD, BELIEVED BY MANY TO BE THEIR LAST HOPE, SOARED TO $1,500 AN OUNCE!
OBVIOUSLY A LOT OF PEOPLE IN THE WORLD THOUGHT IT IMPORTANT.
What's the cause of all this difficulty you might be asking? The country is spending far more than it earns. IT IS JUST LIKE IN YOUR HOME--YOU CAN'T DO THAT, NOT EVEN TO KEEP UP WITH THE JONES! UH, WE'RE NOT KEEPING UP WITH THE JONES, WE'RE LEADING THEM!
Please get involved in correcting this problem. Can you say TEA PARTY?
God Bless!
RETIRED FOR 20 YEARS, LIVING ON PENSIONS AND SOCIAL SECURITY, I STILL PAY TAXES, but thats besides the point, right?
A blunt warning has been issued by Standards & Poor, S&P, probably the most trusted credit-rating source in the world, that the failure to face the mounting U.S. debt by it's leaders has forced the down grading of America's debt rating from STABLE to NEGATIVE, leaving their bond rating at AAA. Only Japan has more debt and only Spain has a NEGATIVE rating.
YOU MIGHT EQUATE THIS TO LIVING ON CREDIT CARDS AND BEING NOTIFIED THAT YOU HAVE LOST YOUR CREDIT BECAUSE YOU ARE MAXED OUT!
How important is this? The day America's credit was downgraded the American Stock Market plummeted some 140.24 points, a 1.14% drop, it's largest decline in a month. Japan's market declined another 1% over and above it previously drop from it's disasters, while markets in Britan, Germany and France doubled that decline to over 2%. GOLD, BELIEVED BY MANY TO BE THEIR LAST HOPE, SOARED TO $1,500 AN OUNCE!
OBVIOUSLY A LOT OF PEOPLE IN THE WORLD THOUGHT IT IMPORTANT.
Please get involved in correcting this problem. Can you say TEA PARTY?
God Bless!
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