An economic analyst invited by the State Department to brief a group of foreign journalists on the U.S. economy on Election Day responded to a question from a reporter from the Egyptian newspaper Al Wafd by predicting that U.S. Treasury securities—the means by which the U.S. government finances its debt--will be downgraded again.
On Aug. 5, 2011, three days after President Obama signed legislation increasing the U.S. government debt limit by $2.4 trillion, Standard & Poors downgraded U.S. Treasury securities from its highest grade of AAA to AA+. Prior to that, U.S. government debt had always maintained the highest rating.
At Tuesday's State Department event, the Egyptian reporter asked analyst Kathy Bostjancic, director of Macroeconomic Analysis for the nonpartisan Conference Board, what impact the so-called “fiscal cliff” facing the U.S. federal government would have on the rating of U.S. Treasury securities.
And the Obambots see nothing wrong with that.
ReplyDeletehang on; this is only the beginning
ReplyDeleteWRONG 1117, more like the hard core partisan ideologues on both sides fail to see they are running this country into the ground. The agenecies have said repeatedly that their primary concern is the failure of the US gov. to craft a LONG TERM spending plan. These clowns in congress and the folks who continue to vote them in are to blame. Maybe now that the election is over we can see them seriously get to work instead of showboating for the cameras. And I'm talking about members of both parties here because both parties are to blame.
ReplyDeleteWho cares? I don't have much of anything anyway.
ReplyDelete