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Thread: USA Debt Bomb

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    GlennO's Avatar
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    Default USA Debt Bomb

    We should not be surprised when the combination of a credit rating downgrade coupled with an interest rate bump of a few points brings down our financial "House of cards"......


    Moody’s hints at move that could be catastrophic for US debt

    Moody said Monday that it would consider downgrading its triple-A rating for US Treasury Bonds if Washington continues to pile up record deficits. The move would make it significantly harder for the US to finance its debt by borrowing from other countries.



    By Husna Haq / Correspondent / March 16, 2010

    Moody?s hints at move that could be catastrophic for US debt / The Christian Science Monitor - CSMonitor.com

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    Default Re: USA Debt Bomb

    Nope, I won't be surprised in the least.

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    Default Re: USA Debt Bomb

    I would imagine IF the ObamaCare "thing" is passed, this one step would probably push the US closer to a very bad reflection of it's credit rating. Maybe a Debt Consolidation program for the US???

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    Default Re: USA Debt Bomb - - NY Times version

    This was not in the CS Monitor version...........

    “Growth alone will not resolve an increasingly complicated debt equation,” Moody’s said. “Preserving debt affordability” — the ratio of interest payments to government revenue — “at levels consistent with Aaa ratings will invariably require fiscal adjustments of a magnitude that, in some cases, will test social cohesion.” The United States, Britain, France and Germany have always been rated triple-A by Moody’s, with the United States first rated in 1949.


    Moody?s Warns U.S. Debt Could Test Triple-A Rating - NYTimes.com

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    Default Re: USA Debt Bomb - - -trend emerging

    Obama Paying More Than Buffett as Bonds Show U.S. Losing AAA

    Obama Paying More Than Buffett as Bonds Show U.S. Losing AAA - Bloomberg.com


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    Default Re: USA Debt Bomb

    Quote Originally Posted by MikeD View Post
    I would imagine IF the ObamaCare "thing" is passed, this one step would probably push the US closer to a very bad reflection of it's credit rating. Maybe a Debt Consolidation program for the US???
    Yeah, Obama care just is gonna speed us up on the road to decline.

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    Default Re: USA Debt Bomb

    AJ DiCintio wrote a very informative article in today's issue of The New Media Journal: War Irreconcilable


    AJ DiCintio

    War Irreconcilable
    March 22, 2010

    As I write this piece, it appears likely that Obama and his congressional minions will succeed in buying off enough votes to implement the perverse machinations by which they seek to impose the abomination called Obamacare upon a dissenting public.

    However, the most important aspect of this latest act of an ugly, corrupt, power-loving drama through which Democrats ultimately hope to socialize 16% of the economy has nothing to do with a transient political victory and everything to do with the following, which is now undeniable:

    President Obama, in concert with his Democratic congressional allies, has decided (in Milton’s words) “To wage by force or guile eternal Warr Irreconcileable [against his] grand Foe” — Obama’s foe being the American majority, American tradition, and the American Constitution.

    For proof that a free people must respond to this astounding declaration in kind, it is necessary only to consider the truth about Obamacare.

    ...From the outset, Obama intended his bill to federalize, not “reform,” healthcare, as evidenced by fact that he refused to take ideas that innovative doctors have proposed to restructure the practice and delivery of medicine and make them the centerpiece of a gradually implemented, market based, results oriented reform plan.

    ...After having rejected that sensible approach, which would save hundreds of billions while protecting the excellence of medicine, Obama added insult to injury by refusing to extract even one cent from trial lawyers who rake in billions by slopping at the immensely wasteful trough created by the Healthcare Lawsuit Cycle, a selfish, swinish enterprise essential to filling the coffers of the Democratic Party.

    ...Obama has engaged in a systematic agenda of lies about the true cost of Obamacare, including being dishonest about the fact that he keeps his cost estimates low by stealing from Social Security, the Student Loan Program, and his new government-run long term care insurance plan, whose premiums he uses “Madoff Style.”

    ...In another insult to the public, Obama has instructed the CBO to estimate the cost of Obamacare by using ten years worth of revenues from cuts in Medicare, increased taxes, the aforementioned stealing, and the Ponzi scheme but only six years worth of expenses for healthcare services. No wonder, then, that both history and the estimates of independent organizations put the real cost of Obamacare not at the CBO’s one trillion but as much as three bankrupting trillion dollars.

    ...However, even those lies are not sufficient to create a suitable fiscal Democratic subterfuge. Therefore, Obama lies this triplet of obese lies of omission, never mentioning (1) that his plan forces millions more into Medicaid (2) that this flood of Medicaid recipients, all of whom require government subsidies because Medicaid bills are reimbursed at only 50% of true cost, will cause state taxes to rise dramatically (3) that the new cost of Medicaid will be so huge it will also have to be paid by significant increases (called “cost shifts”) in health insurance premiums assessed upon every non-Medicaid eligible citizen.

    Note: The intrusion into state power described above is absolutely profound; for if the de facto control that Obamacare exerts upon state legislatures is declared constitutional, Jefferson’s contention that an activist judiciary will usurp power “from the States [until] the government be consolidated into one” will sadly have been proved true.

    ...To get his plan passed, Obama has allowed his lieutenants to engage in a series of corrupt political payoffs the likes of which have not been seen since the days of the Robber Barons. In fact, congressional Democrats have employed so many despicable Washingtonian deceptions to stuff thousands of plain envelopes with bribe money that researchers will be able to dig out the entire truth about the rodents and their filthy inducements only if they are aided in their labors by ten thousand forensically trained rat terriers.

    ...After sinking polls and the Massachusetts Senatorial result put Obamacare in grave jeopardy, congressional Democrats not only perverted the concept of “reconciliation” but also perfected the perversion by concocting a shameless, Constitution-mocking sham which they named with the Orwellian title “Deem and Pass.” When the man who is regarded as The Avatar of Hope and Change by his sycophantic followers was asked to react to these contemptible stratagems, he brushed the question off with an agreeing shrug.

    ...For the first time in American history, Obamacare forces every citizen to purchase a specific product. Thus, the analogy of equating Obamacare’s requirement to laws requiring drivers to buy auto insurance is based upon a lie; for a true analogy says this: “The purchase demand of Obamacare is like a law requiring every U.S. citizen to buy and maintain a car that in every last detail meets current federal standards.”

    ...However, Obamacare’s unprecedented requirement doesn’t end there; for to insure that the dictum is obeyed perfectly, Obama calls for adding 15,000 new IRS agent-enforcers to the federal payroll. Unsurprisingly, the most liberal president in the nation’s history is happy to add to the concept of medical science the element of a high-booted National Healthcare Police Force, one of the true beloveds of every politician in love with centralized power.

    ...Obama insists that his healthcare bill contain language requiring “diversity” in medical hiring, audaciously asking the nation to trust him that federal bureaucrats will never use the “diversity mandate” to undermine meritocracy in medical hiring or interfere with the doctor-patient relationship. Moreover, an ideologically blinded Obama has included this stipulation despite the fact that the American public has come to learn a thing or two thousand about the politburo nature of federal social engineering bureaucracies (think, especially, of the EEOC).

    ...Finally, in another particularly ugly rejection of a long established will of the people, the commingling of public and private money in Obamacare means that whatever the president says, public funds will be used to pay for abortions.

    The foregoing list is certainly not complete. However, it includes enough information to convince every common sense person of good will to join in a war irreconcilable against Obamacare.

    This political war, however, will not be won easily; for when it comes to bringing 16% of the American economy under the arrogant, disfigured thumbs of federal politicians and bureaucrats, lovers of centralized government will fight like hell — a fact that explains the devilish nature of Obamacare and the war Democrats have declared on its behalf.

    Therefore, to defeat Obamacare as well as other aspects of Obama’s euphemistically named “progressive” ideology, We the People must offer our voices, our talents, our votes, our time, and our money.

    We must educate ourselves about the realities of the Obamacare bill.

    We must see to it that the sentence “Repeal It!” becomes nothing less than ubiquitous across the nation.

    But most important, we must employ every moral and intellectual fiber of our being to steel ourselves for a long, difficult fight, always finding comfort and strength in the truth that our opponents are neither gods nor fallen angels but merely-human beings who, despite their sneering, power-loving pride, are incapable of creating something that The Spirit of ’76 cannot blast into oblivion.

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    Default Re: USA Debt Bomb

    Sean

    Thanks for the posting! I was unaware of The New Media Journal site and it is now bookmarked in my favorites .

    Mr. DiCintio has a "Take No Prisoners" passion which is necessary IMHO to overcome both the entitlement mentality and the sleight-of-hand based leadership that is presently wielding the power. In these times one may indeed need to use emphatic "megaphone" language

    I believe the events that led our founders to pen these elegant and sacred words in our Declaration of Independence were Providentially influenced: "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.

    It appears to me that those of the "nanny-state" perspective have confused the essential term "the pursuit" in our Grand Declaration, with "the guaranteed right". Social Security (1935) is a Ponsi Scheme foisted upon the people of a generation ago. Worse it has served as a faulty cornerstone for other wealth-redistribution programs such as Medicare. Thankfully, his "second bill of rights" (1944) died with him.

    While I look up expectantly for the shout to “come up hither", I am a beneficiary of the Father’s Amazing Mercy and Grace to extend His forbearance to me as a Prodigal Son, so I am reminded to occupy until He comes.

    Today while re-reading the Declaration I found a phase I had not really contemplated before, but today I more fully appreciate the phase used within the list of the many grievances against England’s king. The phrase is “He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.” While I do not think we are at that threshold of frustration at the moment, there is, I think, a palpable tension within our society is a result of failing to understand the difference between rights (God bestows these) and opportunities (these are not guarantees).

    We ought not to be spending our Grand-kids's future.....

    Glenn
    (a bondservant by choice – desiring to be profitable to Him)
    Last edited by GlennO; March-22nd-2010 at 07:04 PM.

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