Strengthening Constitutional Self-Government

No Left Turns


Debt, debt, debt

This morning Bloomberg is reporting that the United States, along with Great Britain, is in danger of losing its AAA credit rating.  In addition, Social Security has announced that it has begun cashing in its Treasury bonds to make up the difference between what the SSA has been collecting in taxes and what it's been paying out in benefits.

I know what you're thinking--what a perfect time for Uncle Sam to take on a massive new entitlement program!

Categories > Economy

Discussions - 1 Comment -- You won't believe it, but the stock market is reacting to this news.

"Investors are awaiting more details on a proposed overhaul of financial regulation. Sen. Chris Dodd, a Democrat from Connecticut and chairman of the Senate Banking Committee, is expected to present a bill Monday to remake bank rules. The plan would give the Fed the power to regulate the biggest financial firms and remove the central bank's oversight of smaller bank holding companies. Uncertainty about the changes hurt financial stocks."

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