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Wednesday, August 10, 2011
Tough Decisions Ahead To Get AAA Rating Back
Credit rating agency opinions always provide the steps a company or government needs to take in order to improve its grade. ... S&P has already rebuked the political system that prevented the Administration from increasing taxes to begin to balance the budget. This rating agency made it clear that budget cuts alone are not sufficient but that taxes must be increased in order for the U.S. to regain its former credit rating. ... It may take a financial catastrophe – a day when America actually cannot raise money in the global capital markets – for voters to acquiesce to real austerity and higher taxes. – 24/7 Wall Street
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3 comments:
The first step in getting the AAA rating back,is get rid of President Obama this man is a worthless and good for nothing,hell the Muslims don't even like him.
This is an interesting statement. While the political system did in fact prevent taxes from being raised, it also stone walled any attempt to significantly slash spending.
The head of S&P specifically said the entitlement programs are significantly out of line, non-sustainable, and need a major overhaul. The US must reduce spending. The impasse on increased revenues came about when the proponents wanted to sock it to the rich, despite the fact that 1)the remaining untaxed income wouldn't cover the annual deficit, 2)the rich aren't dumb enough to stick around and be raped with so many offshore options available, and 3)to do so would evaporate all monies available for hiring new employees.
i never seen anybody borrow them self out of debt.
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