The US government's credit rating has been downgraded following concerns over the state of the country's finances and its debt burden.
Fitch, one of three major independent agencies that assess creditworthiness, cut the rating from the top level of AAA to a notch lower at AA+.
Fitch said it had noted a "steady deterioration" in governance over the last 20 years.
Wednesday, August 2, 2023
Let's Go Brandon
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Lets go Brandon? It's not Biden's fault or Trumps actually, the lack of governance rests squarely on Congress. They are so busy playing politics there's no time for governing.
"Nation of laws", congress makes the laws, congress decides what details are left to government agencies to decide.
Debt only makes sense when it's necessary or is going to make improvements in your life that make paying extra for worth it. But it's always a decision based on projected income. When good tax paying jobs are moved offshore by people who have had their tax rate cut repeatedly for decades those projections go out the window. With the extra funds from those tax cuts they can buy congress critters and gobble up small businesses to milk and discard.
$10 Trillion in interest, gosh that sounds like a lot... Hmm,
1 million seconds is 11 days, 13 hours, 46 minutes
1 Billion seconds is 32 years
1 Trillion seconds is 31,688 years
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