Watching fox news and they are talking like a downgrade in the US credit rating is inevitable at this point. If true, interest rates will go up and the market / economy will be in real trouble.
Probably. We won't default (it's in the Constitution that creditors get paid first and we have the money), and the whole August 2nd "deadline" is a ruse. But even if the Congress passes something to reinstate the debt ceiling our rating will probably go down.
But it's cool, because DC knows best.
But it's cool, because DC knows best.
We need Ross Perot math.
What we need is grade school math, were a 5% increase in spending is not called a cut.
Most of our representatives in Washington are drug addicts. The drug is the power that comes from being able to spend enormous amounts of money.
What we are seeing is a junkie afraid of losing his supply of drugs. He will do anything, say anything, to be able to keep on spending.
I may start believing some of what they say when they make structural reductions in the size of the federal government.
What we are seeing is a junkie afraid of losing his supply of drugs. He will do anything, say anything, to be able to keep on spending.
I may start believing some of what they say when they make structural reductions in the size of the federal government.
I'm not so sure. We need to be able to borrow money in case of a war - so an air tight balanced budget amendment would not be good. On the other hand if we don't make it air tight then they will work out weasel ways to keep increasing spending for their favorite pork projects.
Basic carrot/stick problem. Maybe we should take away the carrot for the pork projects and have the voters start using the ban stick.
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