US to “Lose it’s AAA Rating”
November 12, 2008 – 1:08 pmBush’s combination of Tax Cuts, Stimulus Package, War Spending, and the Bailout, may cause the United States to “loose it’s AAA rating,” and default economically, according to Martin Hennecke, senior manager of private clients at Tyche.
“The U.S. might really have to look at a default on the bankruptcy reorganization of the present financial system” said Hennecke. Government bankruptcy is not out of the realm of possibility he said.
“In the United States there is already a funding crisis, and they will have to sell a lot more bonds next year to fund the bailout packages that have already been signed off.”
In order to stave off recession, Hennecke suggested the US would have to radically reduce spending, which includes recalling all its troops from around the world. This necessity for dramatic changes could have been avoided if the Bush administration’s $700 billion bailout plan had not gone through. Although, none of this would be a problem if Bush hadn’t sent troops to random countries to fight frivolous wars.
As for a stimulus package that could fix all of this, Hennecke said there is not much of an industry left to stimulate.
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4 Responses to “US to “Lose it’s AAA Rating””
The reporting seems less credible when you have a misspelling in the headline.
http://www.wsu.edu/~brians/errors/lose.html
Admin edit: lol oops
By Danny Feign on Nov 16, 2008
Typical. Why do you blame Bush for the stimulus package, when it was passed by a democrat controlled congress?
By Jeff on Dec 14, 2008