Moody's and S&P are both threatening to reduce the US government's AAA bond rating if we do not raise the debt ceiling before August 2. I have one question for both of those entities.
With a $14.3T deficit, and $70T in unfunded liabilities, how in the hell do we rate AAA in the first place?
By the way, if we do not raise the debt ceiling, we do not instantly default on anything. Default is when you don't pay a due bill or debt. We have enough money to pay some things, just not all things.
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