Headline at Drudge: US TRIPLE-A CREDIT RATING UNDER THREAT FROM SOARING WELFARE COSTS…
It links to: FT.com / Home UK / UK – US’s triple-A credit rating ‘under threat’,
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 yesterday.
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.
1) Social Security and Medicare are not “welfare.”
2) Social Security is not the problem. The problemis that the government owe money to Social Security. Reagan and then the Bushes borrowed money from the fund to give tax cuts to the rich, and now the fund wants sime of it back. (Clinton was paying it back.)
Update – How come the people so concerned about the financial condition of the country – namely the massive debt – never call for tax increases to start paying down that debt? It worked for Clinton and resulting economy of the 90’s was good for everyone.
Update II – Why not a call to reduce the huge, vast, unbelievable military budget?