These are the glory days of the Progressive movement. They have control of every facet of American life. Obama gets whatever he wants and does as he pleases. He has become a god-king to many Americans and acts like a 3rd World dictator. The media publishes daily stories about how strong the US economy is and that these are the greatest economic times in this nation’s history. Statistics of long term unemployment being at it’s highest levels since WWII get no play in the media. Reality is not playing along with the Progressive fairy tale.
The credit rating agency Fitch is now warning that it may downgrade the America’s credit rating. They cite our dysfunctional political system, deficit and debt as the reasons.
LONDON (AP) — The United States could lose its top credit rating for the second time from a leading credit agency if there’s a delay in raising the country’s debt ceiling, Fitch Ratings warned Tuesday.
Fitch already has a negative outlook on the U.S. as the country’s debt burden has risen to around 100% of its gross domestic product and has said it will make a decision on the rating this year, regardless of how the debt ceiling discussions pan out.
The U.S. government reached its statutory debt limit of nearly $16.4 trillion at the end of 2012 but has engineered extraordinary measures that should see it through February.
Despite his cautious tone on the rating, Riley said the U.S. has a number of huge advantages and that getting the country’s public finances into shape will not require the same level of austerity that many countries in Europe have had to enact over the past few years, partly because the U.S. economy is growing at a steady rate.
Other factors Fitch says support the U.S.’s AAA rating are the country’s economic dynamism, lower financial sector risks, the rule of law as well as the global benchmark status of the country’s bonds and the dollar.
However it says these “fundamental credit strengths are being eroded by the large, albeit steadily declining, structural budget deficit and high and rising public debt.
We are just like a 3rd world nation. We do not have a free press, one political party controls business, academia and politics. We are printing money to monetize the debt and we have huge deficits yearly. We deserve a credit downgrade for our fiscal irresponsibility.