US credit rating downgraded again

[Kevin]

The credit rating of the US has been downgraded to a AA from a AA+.

Egan Jones Downgrades US Credit Rating - US Credit Rating Downgrade - Fox Nation

My first thoughts are so what, and why do we even have a AA credit rating?

The US owes as much as we are worth. Usually, if you owe more then you are worth, you get a really bad credit rating.

[curt mini14]

its a black people kind of thing they are knowen for that kind of behavier spend what you dont have and forget paying your bills.

[Adjuster]

Hey, we can just tax the rich....

It's the Buffett rule..

[LunaticFringeInc]

Surpise? I think not. Given the current administrations course and the fact that a majority of americans are quiet content with it, we better get used to it and the consequences that go with it cuase the only place our credit rating is going is DOWN!

[Kevin]

The US is headed into a major financial problem, a problem that printing more money and lowering the interest rates will not be able to fix.

There is only X amount of money that can be printed before inflation kicks in.

Interest rates can only be lowered to a certain points before making loans is no longer profitable.

The US government allows the federal reserve to print money out of thin air, and for what? To give the money to the banks?

Sooner or later the government is going to have to stop spending, and when they do there is going to be a serious backlash. Where does the government cut spending at? All of the established programs will have profound effects on the economy.

Do you cut food stamps?
Do you cut military spending?
Do you cut NASA?
Do you cut medicare?
Do you cut medicaid?
Do you cut public health?
Do you cut foreign aid?

Whatever programs are cut, there is going to be some kind of backlash.

[higgite]

Originally Posted by Kevin Do you cut food stamps? Do you cut military spending? Do you cut NASA? Do you cut medicare? Do you cut medicaid? Do you cut public health? Do you cut foreign aid?

Yes.
Not no, but hell no.
No.
No.
Yes.
Yes.
Not yes, but hell yes.

[Jeff F]

The US is not headed into a major financial problem, its already here. We have borrowed and owe so much money we won't be able to pay off just the interest on it. We will go into default. And printing more money is only going to devalue our money more and cause massive inflation, thats happening right now. Whats going to happen when other country's stop accepting US dollars for payment?

[Mosinka]

Originally Posted by Kevin The US is headed into a major financial problem, a problem that printing more money and lowering the interest rates will not be able to fix. There is only X amount of money that can be printed before inflation kicks in. Interest rates can only be lowered to a certain points before making loans is no longer profitable. The US government allows the federal reserve to print money out of thin air, and for what? To give the money to the banks? Sooner or later the government is going to have to stop spending, and when they do there is going to be a serious backlash. Where does the government cut spending at? All of the established programs will have profound effects on the economy. Do you cut food stamps? Do you cut military spending? Do you cut NASA? Do you cut medicare? Do you cut medicaid? Do you cut public health? Do you cut foreign aid? Whatever programs are cut, there is going to be some kind of backlash.

ALL of the above, much of which should be eliminated 100% and privatized. For those who do not comprehend, the spiraling costs of medical care are a direct result of government interference into an area where the average law maker has NO expertise.