The US is at risk of losing its top-notch triple-A credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending, Moody’s, the credit rating agency, said on Thursday.So suddenly, our policy of offering "free" subsidies to maintain corporate profits might not be such a good policy after all, heh?
The warning over the future of the triple-A rating – granted to US government debt since it was first assessed in 1917 – reflects growing concerns over the country’s ability to retain its financial and economic supremacy.
-Wes
A few days ago I listened to the US Comptroller, David Walker, discuss how grim things really are. The U.S. Government Accountability Office is holding "Fiscal Wake-Up" events all over the country.
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