Downgrade could come as soon as Friday
The day of reckoning looms even closer: Credit rating downgrade for the U.S. government could come as soon as Friday. Key quote:
It’s not the debt ceiling that’s triggering a potential ratings change — it’s the trajectory of debt generated by the federal government.
And this:
The problem, as [the ratings agencies] see it, is not that America can’t pay its debts next month, but that America has grown its debt to such a degree that we can’t pay them in the long run without serious restructuring of the federal government — and this administration refuses to consider it:
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The day of reckoning looms even closer: Credit rating downgrade for the U.S. government could come as soon as Friday. Key quote:
It’s not the debt ceiling that’s triggering a potential ratings change — it’s the trajectory of debt generated by the federal government.
And this:
The problem, as [the ratings agencies] see it, is not that America can’t pay its debts next month, but that America has grown its debt to such a degree that we can’t pay them in the long run without serious restructuring of the federal government — and this administration refuses to consider it:
Readers!
My annual February birthday fund-raising drive for Behind the Black is now over. Thank you to everyone who donated or subscribed. While not a record-setter, the donations were more than sufficient and slightly above average.
As I have said many times before, I can’t express what it means to me to get such support, especially as no one is required to pay anything to read my work. Thank you all again!
For those readers who like my work here at Behind the Black and haven't contributed so far, please consider donating or subscribing. My analysis of space, politics, and culture, taken from the perspective of an historian, is almost always on the money and ahead of the game. For example, in 2020 I correctly predicted that the COVID panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Every one of those 2020 conclusions has turned out right.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
i think both talks last night were horrible . it doesn’t seem like they even tried to explain themselves and counter each other’s arguments . obama has to know everyone says he is growing the government so huge he didn’t try to explain why that has happened at all . boehner just said we just stop spending cause we can’t afford it . they said the same stuff nothing new no attempt to listen or respond to the way the other side characterizes them or explain why they are doing what they are doing . i tend to think getting out of debt is not so simple as just stopping spending too much i think sometimes you have to make strategic investments and resctructure to keep the engine going . i heard someone say governent should run like a business , to suggest a failing business simply needs to cut its spending to be successful doesn’t make sense . once again i wish eveyrone would listen to senator coburn he was informative on meet the press