Downgrade in a nutshell

Courtesy Ed Morrissey:

If you had to rate a potential investment that had an income of, say, $22,000 a year but had costs of $37,000 per year, a standing debt of $143,000, and contracted future debt that exceeded $1 million, would you give that investment a gold-plated AAA rating and buy their bonds at the lowest interest rate possible, or at all?  Of course not, but that’s exactly the fiscal situation of the US, at a 100,000,000:1 scale.

At least it didn’t happen while the markets were open, right?

Related question: if the markets tank Monday, will the media avoid the use of the term “Black Monday, 2011” out of liberal angsty fear of being labeled racist? What new term can they cook up?

See the sidebar to the left for downgrade news.

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5 Responses

  1. Get a load of that guy. Republicans actually passed a budget and plan that would have saved us from the downgrade. Democrats never presented a single plan and have gone now over two and a half years without presenting a budget. That guy is drinking the Liberal koolaide poured out by the media.

  2. What a disgrace. This president is the problem. This will be his legacy. 2012 is not coming fast enough.

  3. The phrase will be “Tea Party Monday.”

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