Politics
Out of context: Reply #15308
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- TheBlueOne0
Via the Wall Street Journal:
http://blogs.wsj.com/washwire/20…
"A downgrade of the U.S. credit rating would be far less damaging than default, analysts say, but it’s not without its consequences.
The immediate impact of a downgrade likely would be modest, but the medium-term impact would be “significant,” leading to a permanent increase in U.S. borrowing costs of around $100 billion a year, Mr. Belton said. That, in turn, would hurt economic growth, he said.
“That $100 billion a year is money that’s being used to pay higher interest rates, and that’s money being taken away from other goods and services,” he said."
---------------------So let's get this straight - no matter how this fiasco plays out it's going to end up costing the US $100B a year in increased interest rate payments because these fucking yokels in DC are playing chicken with the credit rating of the US. A chnage from a triple A to AA rating will incur heavier interest rates going forward and from what I read on the markets a downgrade because of this bullshit is a near certainty.
This is utterly ridiculous bullshit from all the players involved.
- 'Tis I agree on, bigtime, such BS.********
- I'm not a fucking liberal asshole. Can't yuo get that through your monkey skull.TheBlueOne
- 'Tis I agree on, bigtime, such BS.