Neither the U.S. government nor Standard & Poor’s (NYSE:MHP) are blameless for the credit rating downgrade that continues to shake global markets. The milestone event is actually an embarrassment to both parties.
The U.S. Government is Clearly Dysfunctional and Heavily Indebted
As a U.S. citizen, I can’t say I didn’t see this coming. We have stacked up Trillions of dollars in federal deficits and debts to creditors. Since 1998, we have created two major economic bubbles (dotcom and credit/housing) and lived through their collapses. Over the past decade, Washington D.C. and the two major political parties (Republicans and Democrats) seem to have forgotten about managing our country for the greater good and instead spent all their time trying to get the incumbents to fail so voters will switch parties every election. Entitlement programs have grown to epic proportions based on political promises rather than the economic law requiring more income than expenses. In sum, it’s a fucking mess.
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