Truth In News
"There Is NO Risk!"
Treasury Secretary Tim Geithner said Tuesday (Aug 2, 2011) there is "no risk" that
the U.S. will lose its top credit rating amid a new analysis that revised its
outlook on American debt to "negative."
Fast forward to Friday, Aug 5, 2011 - Both Standard and Poors and Moody's
down-graded the U.S. credit rating from 'AAA' to 'AA+' making OBAMA the
first president in U.S. history to ever have such a financial down grade.
What does this mean to you and me? Americans will have to pay more for just
about everything (food, fuel, etc.). The recession has led to higher prices and
that equates to INFLATION and inflation makes everything more expensive due to the
U.S. currency being worth less while and at the same time squeezing finances
for individuals, families and businesses.
The markets have been on a downward rampage since Monday (Aug 1) when
the congress and Obama agreed on a federal budget. The budget, signed by
Obama, would pay-down the federal debt by $1T dollars while at the same time
the president would have authority to continue spending money we do not have.
The U.S. economy is being tossed-down by the financial abyss of default, inflation
(make that hyper-inflation where things cost more while the dollar is worth less),
and continued loss of jobs. The federal government could avert this problem by
reigning in spending, getting rid of policies/laws that hinder businesses and markets
and give incentives to buy 'American'.
If the federal government continues in its reckless behavior of spending and give
aways, then there will be a fiscal armageddon to ALL of US. But, that will be after
hyper-inflation followed by market collapse and worthless currency. I'm guessing the
elite rulers in WDC have no idea how to avert this catastrophe, because they are
trying to be re-elected at the expense of the financial security of the American people.