American's Credit Down Grade

Down grade to AA credit rating

Source

The Triggers

What is at heart here are the recommendations of the Bowls and Simpson commission recommendations in which they made significant unpalatable economic policy recommendations which if implemented, no political figure of either party would have a second term in office. So the Washington elite, in its self serving politically correct way, decided to create a theater act which became the debt ceiling debate in which they tried to take the political disastrous Bowls and Simpson Commission recommendations more politically feasible for their own re-election.

The theater act has cost us a down grade form the S&P which is only one credit agency while all the other agencies didn't down grade the United States. Since there is zero chance of default not only was the debt ceiling debate a shame but the downgrade is also incredulous. And yet the DOW tumbles down and Congress has shorted the market and they are making record profits form their little theater show in which all of America is has lost money.

And so now we are at the point that Debt Ceiling Reduction Committees will be formed also known as the Super Committees and again I want this job. No one knows who are going to be appointed to these committees but we can only hope that they are not in any political party. POTUS can create one job by giving me a job on the debt reduction committee.

Honestly, Throw the Bums Out and I would only give corporate tax cuts to corporations that hire new employees. Redistribute wealth, corporate America only gets tax cuts for hiring new employees, and end Bush tax cuts for the wealthy.

Quite frankly, I would suggest that Congress will do nothing and just dysfunction their way into letting all the preset triggers go into effect. And then all of Washington will blame each other for the debacle we will all be left in just as they are doing about the down grade and the DOW being down 500 points.l

But I will still happily serve on the debt reduction committees/super committees.


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PETER LUMETTA profile image

PETER LUMETTA 5 years ago from KENAI, ALAKSA

Hi JT, interesting take with the Bowels / Simpson study. You're right though I totally forgot about it, the "children" put on a little show for us and distracted us from the real issues. I want on that commitee too. They need real, working people that aren't bought and paid for like them. They are frustrating and incompetent. Our turn,

Peter


JT Walters profile image

JT Walters 5 years ago from Florida Author

Hi Peter,

It is always delightful to see your posts. You know if I get a seat on this SUPER COMMITTEE that I will save you a seat. Apparently this committee is suppose to have more power over the fiscal budget of the United States than the Treasurey and the Executive Branch combined and it is ony suppose to be a 12 person committee. So I think they need to hire super people to be on thier super committee and as such you and I should be their first choice. Besides, the subject is so politically toxic no one in any party will actually cut anything before the election so they need outsiders and you and I are about as outside as you get and still be from the planet Earth. I think our politicians should visit planet Earth more often. If there feet touched the ground more often they might not pull these stunts.

And besides, we would be employed on this Super committe so that is two people who would have jobs. But I think we should only work for a percentage of what we cut just like you said before:-).

JT

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