Five weeks ago, on February 8, Bloomberg.com brought us assurances from Treasury Secretary Timmy Geithner concerning the stability of the U.S. debt rating.
Treasury Secretary Timothy F. Geithner said the U.S. is in no danger of losing its AAA debt rating even though the Obama administration has predicted a $1.6 trillion budget deficit in 2010. “Absolutely not,” Geithner said, when asked in an ABC News interview broadcast yesterday whether a downgrade is a concern. “That will never happen to this country.”
Geithner stated that, as soon as unemployment declines, “the U.S. plans to rein in the deficit.” This assurance came, of course, in the midst of a push to pass healthcare legislation that guarantees to increase the national debt, but who’s counting? With economic growth coming over the next four years, the former New York Fed president said five weeks ago that deficit reduction “is within our capacity to do.” Capacity differs from intent, though.
Today, there’s another Bloomberg.com story about the U.S. bond rating. It’s entitled “U.S., U.K. Move Closer to Losing Rating, Moody’s Says:”
March 15 (Bloomberg) — The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service…
Under the ratings company’s so-called baseline scenario, the U.S. will spend more on debt service as a percentage of revenue this year than any other top-rated country except the U.K., and will be the biggest spender from 2011 to 2013, Moody’s said today in a report. “We expect the situation to further deteriorate in terms of the key ratings metrics before they start stabilizing,” [Managing Director of sovereign risk at Moody’s in London] Cailleteau said. “This story is not going to stop at the end of the year. There is inertia in the deterioration of credit metrics.”
Unemployment remains near 10%. The debt level continues to rise out of control.
Congress is on the verge of voting on a healthcare bill that would send the debt level even higher, faster. And the MSM is…well, where is it?
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71 Comments
War, Debt, Unemployment, Recession….those are only horror stories for the Lying Left Media when Republicans are in power…
They won't be fishin for long…odumbo won't let em….
you know, it's really only stuff like this that prevents me from telling my bosses to eff off… but do you ever wonder how many of the people who voted for Obama in 2008 are now asking themselves "what the hell was I thinking??!" Ooh, I know: let's make every put 5% of their paychecks into a govt saving account… you can apply for an exemption if you're too smart to understand how to use TurboTax… better yet, make it 10%, most of us rubes and roobs can understand a tenth better than we can understand a twentieth.
I like the last picture. It was the temporary prozac to a dire situation.
why should the MSM care? they're not only losing their jobs to anyone and everyone, but they are being out performed and proven to be biased. like Osuck they too want this ship to sink.
I read that same article, and there were some things that stood out that aren't mentioned in this article.
We have built a black hole of debt that will some day suck us in!
The same article indicated that the U.S. now pays out the highest percentage of of its revenue in interest of any country in the world. This is an unprecedented milestone that will certainly lead to disaster and possibly a total economic collapse.
But that's ok because we'll have another monstrous entitlement by next week. Our destruction is assured unless we arrest this entitlement mentality. Any bets on the likelihood of that?
I just noticed that the author referenced an article several days ago.
Last night, Moody's issued another warning. This latest Bloomberg article was the one I was referring to in my post. Its' even worse than the article above indicates! Here are a few key sentences:
The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.
Under the ratings company’s so-called baseline scenario, the U.S. will spend more on debt service as a percentage of revenue this year than any other top-rated country…
“We expect the situation to further deteriorate in terms of the key ratings metrics before they start stabilizing
#sbenard,
It's only because we know that there are smart, informed readers like you that it isn't necessary to put everything into a piece that necessarily needs to be brief. Intelligent folks like you will fill in the blanks, every time. And for that, thanks.
Archy
The one on the left is my first wife. Not.
Arcny
Good article, better pictures. You us dumb conservative rednecks out here REALLY like pictures
I meant "You know..". Too excited, typing too fast.
[...] here: » The MSM, Gone Fishing While U.S. Bond Rating Sinks – Big Journalism Share and [...]
Patience, MSM is a little slow on these things. When America starts paying higher interest rates on its borrowings and both the annual deficits and the national debt escalates at a faster pace, it is very likely they will notice. Until then, patience.
The one thing I have learned that you can trust about this administration is: Whatever they say the truth is opposite….
I see that too…but it makes me wonder…how do they think they will come out on top when the ship goes down? It is anyone's guess how it will resurface…and I am not so sure it will the Progs! My guess is it will be a rather unpleasant outcome for them. Who are the ones that can survive with out their Starbucks? 401 K? Their Beamer?
The reality is that we are the ones being "serviced." There is a certain oozing and corrupting Manure of which Jefferson wrote, overflowing through the halls of our representative institutions. Maybe we can use some of those shovel ready jobs complete with pitchforks to clean out this institutionalized corruption.
Lorben
They deal in "fictional truths"—That just in from the Ministry oy Newspeak….
Damn Lorben, you are right. Blatant lying is not restricted to only this admin though. We need to put our wealth into more secure holdings which will maintain their value over the next few troubling years. Will this all end in some Major conflict? Perhaps. I've got my popcorn by the microwave.
This is the first Rule 5 Post that I've seen on Breitbart. http://rsmccain.blogspot.com/2009/02/how-to-get-m...
Timothy F. Geitner is Barack H. Obama's partner in crime. The economic collapse of the USA, which I pray does not happen, would cement their agenda faster than anything else would.
The MSM has already noticed. Part of the spin process can be ignoring the story, which is the phase of MSM coverage that we are currently in regarding this issue. Later on, when they "notice", there will be an active spin process.
Lorben…
In the old days, Politicians acted in ways that would hopefully keep them in office.
Now it seems,either, they don't care about re-election or they are so ideologically driven that their unwaveringly misguided approach to problems is the only way they can see…Essentially blinded by idiology
Please pass the Advil…..
[...] » Tһе MSM, Gone Fishing WһіƖе U.S. Bond Rating Sinks – Bі&#… [...]
And the neocons here won't discuss what is at the root of this: "free trade" that was demanded by the globalists specifically to bankrupt this nation and subvert our sovereignty.
HPD, I remember a few politicians from the old days…not many…but a few we could count on. Here in the state of Washington, we had Dixie Lee Ray when I was a girl. She was a wonderful Governor, an asset to the nuclear industry in our state…Ronald Reagan, my fav….a true lover of this country…what a patriot…
It is interesting how the Progressive ideology is so pervasive and flagrantly out in the open. Three years ago I didn't even know what a Prog was…my bad! One thing all this crap has brought about is an awareness of just how deeply rooted the Progs are in our political structure. We have a lot of work ahead of us….and I can think of no better way to spend the rest of my life…I figure I have a good twenty five years of oneryiness left in me….
I don't know HiPlains, I am more inclinded to believe the whole lot them are honestly in some kind of contained bubble, it makes no sense that nothing is penetrating any of them! Listening to Stupak (sp) this morning saying in essence the same thing Massa said ie. the arm twisting and threats, lends itself to this weird false reality they inhabit – I honestly do not get it, none of it makes a lick of sense. As for the MSM, I'm beginning to wonder if it's some method to keep the 'wolves at bay', I mean if the 'general' population really knew what was happening, I doubt there would be peace.
I think I'm too afraid to read it!
They sometimes speak Truth but just don't walk the talk.
OCG
In a bubble or blinded by idiology is essentially the same thing….
They(the Regressives) cannot change direction and do what's right/correct….., that would mean embracing Conservative ideas….And that my friend, "ain't gonna happen"….
This current depression will go on and on until some pro small business policies are enacted and Obamster stops with all his expensive economy killing nonsense….
Lorben
I'm really likin' Paul Ryan…This is a guy that gets it…He is to commie progs what Mitch Rapp is to terrorists..
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I like what I see with him too. He was very articulate in the HC Summit. It will be interesting to see how all this falls out. My fear is there will be a financial collapse before 2012…might prove to be rather intense in many ways…
ok, I'll agree, bubble or blind ideology are in the same arena. Honestly, my teenagers have more sense than this whole administration!
What the progs refuse to admit, is the little concept that screams for enactment….You want a big gov'ment?
Better promote a strong and vibrant private sector to pay the bills..
Not everyone can or wants to work for the gov'ment,…. but that's where it seems we're headed…
OCG
You must live in "fly over country"….On the Plains of L.A, they are all little Obamatons…Everyone unemployed but are so ignorant of economics, they are clueless as to the root cause….
Sometimes I wonder if the Progs are even aware at all. The country has been "Going Galt" for over a year now and they have lost a huge amount of revenue to pay for the crap they keep shoving down our throats. They cannot possibly believe that their system works…Power does crazy things to some folks…
Are you referring to the comment of Little Dick Turban yesterday, talking about how much more expensive insurance will be after BamsterCare is shoved up..er down our throats????
Lorben
It still goes back to that age old question….Are they living in a bubble or are they blinded by idiology??…Lets ask OnCommonGround…Bet he knows.
When you say "GoingGault", does that mean we are or should be investing more in high speed rail ? or listening more to GaltFan?? hehe…
NEVER TRUST MOODYS!
If there is one company who blame could be placed for this recession…it is Moodys.
Maybe it is living in the bubble that makes you blinded with ones ideology! That's my take…In my reference to "Going Galt" our country has been holding back on starting any new small businesses or adding to our small businesses. I know my husband's business could add employee's, but we are sitting, watching and waiting. I see all of America's small businesses doing exactly the same thing….and yeah, listening to GaltFan…a good friend of mine! lol! ;^)
Uh, just how does free trade do that, pray tell? You haven't taken Econ 101, have you?
Same boat here …just waiting to get to the 'other side" of this unnecessary mess…
I noticed you and GF… I'm jealous..!! He's been writing some inspired comments lately…But please, please don't let him carry your books….!!!
Are Democrats in Panic Mode. Things are getting interesting. LOL
You make me laugh…You know me, I think for myself pretty much…but I don't mind being challenged to think outside my world and besides my boyfriend of 31* years would pound his face if he carried my books…
*Married 29 years this June….
WOW !!! NewlyWeds………….
Me and LOL 27 yrs in July but whose counting…
Awesome! We are becoming anomalies….;^)
Well now that was a matter of trying to walk on one foot whilst the other was in his mouth.
R-12
Just the image of such an act is hillarious..As is Little Dick….
Those darn globalists!
They must be the ones advocating "free healthcare" too…. Cuz we all know that's gonna bankrupt this nation too.
We have an unsustainable debt but Obama and congress keep spending more and more. If we lived in rational times this would be called insanity.
Why is everybody so worried? Obama appointed Andy Stern to the debt panel. We'll probably go to AAAA rating in no time at all. Just look how well the union books and pensions are doing.
The picture on the bottom needs to be more prominent
[...] The Mainstream Media, Gone Fishing While U.S. Bond Rating Sinks [...]
[...] » Tһе MSM, Gone Fishing WһіƖе U.S. Bond Rating Sinks – Bі&#… [...]
Poor fish!
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[...] » The MSM, Gone Fishing While U.S. Bond Rating Sinks – Big Journalism [...]
Timothy "Tax-cheat" Geithner is just one of Obama's tools (spelled; fool) and will be dealt with. On the other hand, a nice set of hammerhead holders!
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[...] » The MSM, Gone Fishing While U.S. Bond Rating Sinks – Big Journalism [...]
[...] » Tһе MSM, Gone Fishing WһіƖе U.S. Bond Rating Sinks – Bі&#… [...]
[...] » The MSM, Gone Fishing While U.S. Bond Rating Sinks – Big Journalism [...]
[...] » Tһе MSM, Gone Fishing WһіƖе U.S. Bond Rating Sinks – Bі&#… [...]
[...] » The MSM, Gone Fishing While U.S. Bond Rating Sinks – Big Journalism [...]
[...] » Tһе MSM, Gone Fishing WһіƖе U.S. Bond Rating Sinks – Bі&#… [...]
[...] » Tһе MSM, Gone Fishing WһіƖе U.S. Bond Rating Sinks – Bі&#… [...]
[...] » Tһе MSM, Gone Fishing WһіƖе U.S. Bond Rating Sinks – Bі&#… [...]
[...] » Tһе MSM, Gone Fishing WһіƖе U.S. Bond Rating Sinks – Bі&#… [...]
[...] this item from March 15 (”U.S., U.K. Move Closer to Losing Rating, Moody’s Says”; HT BigJournalism), there’s this (”Obama Pays More Than Buffett as U.S. Risks AAA Rating”). This is [...]
The picture on the bottom really caught my attention
The pic at the bottom should be moved to the top
Great article, made for an interesting lunch time 
bathroom sinks and vanities
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