Cognitive Dissonance

"Democracy! Bah! When I hear that I reach for my feather boa!" - Allen Ginsberg

Posts tagged Treasury bonds

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Moody’s Puts U.S. Credit Rating Under Review

The idiots who decided to extort the debt ceiling for their ideological demands, because they’re incapable of making their non-arguments persuasively enough in the usual court of public opinion, are not getting nearly enough shit for their psychotic, economically illiterate actions. Now the United States has the credit rating agency Moody’s on its ass and is placing the government’s debt rating under review — not over the manageability or size of the debt, but thanks this completely artificial statutory number

Here’s the sentence that should really grind our gears: “Moody’s considers the probability of a default on interest payments to be low but no longer to be de minimis.” This ridiculous refusal to pass a clean hike — or better yet, repeal — of the debt ceiling has suddenly created, out of the blue, the brand new concern that U.S. Treasuries aren’t guaranteed assets. Even if a ceiling hike eventually takes place. Some precedent you’ve set, morons.

This is exactly how I feel about this - I’ve lost all patience with ideologues taking the US economy hostage because they want to further screw the poor and give the wealthy more tax cuts.

How are tax loopholes, subsidies, etc. NOT government handouts?

Filed under debt ceiling Treasury bonds US Debt conservative conservatives politics economy