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Monday, July 18, 2011

Moody's, please lower the credit rating for the US

Yep, they are threatening to change our credit score. Do you blame them? I would have done it during the Bush administration. We have run up the bills to a place that we will be struggling for decades to recover from this. I am sure they have been debating whether to change it for the last year or two, but are taking advantage of the current situation and using it as an excuse or to put pressure on the government so they don't lose money themselves. They want to be able to sell their bonds to anyone and every other country who might stupidly buy them. If our credit rating is solely based on whether or not the US will default on their loans, then it should be on the verge of being changed with the current state of the economy, debt, and disagreements in Washington. If it is anything like a consumer credit rating, then it should have lowered years ago. Again, these bond sellers are looking out for their own interests here. Shocking, I know. I've never heard of this. It's almost like there is collusion between the banks and the government. Oh. Wait. Different topic.

Okay, so back on topic. I want our credit score raised. It's not like the debtors can go back and change the interest rate on our current deals. It's about future loans. If these politicians realize that we really can't get a low interest loan anymore, they will have to think differently. They have always had this cushion. They can just keep spending, Congress will raise the debt, and we will borrow more money from China, Saudi Arabia, or Venezuela. That's how we reached this point of borrowing 40 cents of every dollar we spend. And how our debt payments are in the top five costs for this country. People and the President say they want more money for infrastructure, schools, teachers, police, firefighters, and everything else. Look at how much our debt payments cost us every month. You can think of a myriad of ways that money can be better spent.

It's time to set this country on a different path. One of responsibility. One that tackles the problem and doesn't force my children and grandchildren to pay for our laziness, fear, and political correctness.

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