The US credit rating has just been dropped from AAA to AA+ by Standard & Poor's!

[Kal-El]

For the first time ever...

http://finance.yahoo.com/news/SampP-...107320979.html

Not good. Not good at all.

Get ready to see some higher interest rates, especially if the other ratings agencies follow suit.

[fnkngrv]

that is totally awesome! we all as Americans put ourselves here no matter what anyone thinks and is willing to admit therefore we will reap what we sow.

[Shroomster]

^^^^^exactly....somehow this needs to become a domino effect begetting alot of change....policy wise...

[detroiter]

Maybe this will actually motivate Americans to vote responsibly and open their eyes to the fact that maybe the current system isn't working. When you have two parties who are 180 degree polar opposites and they are supposed to work together on making policy a reality...isn't it common sense that it's not going to happen? I love my country and am proud to be American but the politicians have really fked this country up. No one single person is to blame, but they are all to blame and responsible for this mess.

Common sense tells you not to spend more than you take in and yet they spend more than they take in anyways. Somehow most all of these people are so called lawyers, doctors and everything else in between? They know better.

[digitalrain]

This is really sad, a downgrade isn't the end of the world or anything. It's just the fact that this self-inflicted. Not some malicious foreigner doing this but the politicians that were voted by the people. I agree it is past time to look at alternatives to the current political landscape in the USA. Maybe having a third party to vote for.

Having the 2 sides disagree so strongly when unity was absolutely needed is abysmal. This is far from the America that I grew up with in the 60's 70's 80's and even 90's. Man I miss those days.

When the deficit is over 1.5 trillion a year and they managed barely 2 trillion over 10 years(200 billion a year if averaged). The politicians need closer to 12 trillion. Especially considering the fact that so many are going to retire starting in 2011(baby boomers) / rant

[MickZEL]

Question. All Americans buy cars on credit?

[Kal-El]

Originally Posted by MickZEL

Question. All Americans buy cars on credit?

Most people don't have $25K lying around to pay cash for a car (about the average car price). So probably around 95% of Americans finance their vehicles, even old used cars. Only the wealthy typically pay cash for cars, or the few really money responsible people who manage to save for years to pay cash. Very few people have that type of will power to save, unfortunately.

I just saw an article that shows that only 1 in 4 Americans even have enough to pay for a major car repair, just to give you an idea of our poor savings. The sad reality is, is that a large portion of us live paycheck to paycheck with NO savings. Including myself admittedly.

How is it done in Russia?

Originally Posted by PK198105

McDonald's too not only cars

Sad, but true. Although it's not a majority of us. Yeah, people even buy groceries on credit.

[WeeYari]

Putting myself at risk of a severe flaming here.

During all the economic turmoil of the past 3 years, I've always been perplexed at how the U.S. could continue to fund its war efforts. I once had heard the $$$/day on military spending and was absolutely floored by the figure. Wish I could remember what it was.

And the Space Program.....

While I applaud your nation for your humanitarian efforts, I believe that taking care of your own should not suffer to the extent that it has.

[Kal-El]

Originally Posted by WeeYari

Putting myself at risk of a severe flaming here.

During all the economic turmoil of the past 3 years, I've always been perplexed at how the U.S. could continue to fund its war efforts. I once had heard the $$$/day on military spending and was absolutely floored by the figure. Wish I could remember what it was.

And the Space Program.....

While I applaud your nation for your humanitarian efforts, I believe that taking care of your own should not suffer to the extent that it has.

You bring up good points. I'm a conservative libertarian but agree we need to spend far less money around the world. Unfortunately, it for some reason became America's responsibility to "police the world" because no one else would or could. Do we need to prevent terrorism? Yes, but only where it's a true danger and a danger to us. Yet, we have 10's of thousands of troops in peaceful countries on our side. Why?

And I'm sorry, but foreign aid needs to stop except for the most extreme of emergencies. Our debt is $14.5 trillion, why are we giving money away? We borrow, to donate. Hello?

[tomato]

Originally Posted by PK198105

McDonald's too not only cars

Now, now, Pawel

[Crandall]

The USA spends $720 million a day for the "war" in Iraq. The UN predicts that $25 million would end world hunger; I think the USA could spend their money much wiser.

[fnkngrv]

The state of the world and relationships is so overly complex it is mind boggling. People don't really realize the hard choices and chess games that are played at too many layers to count and how tough the decisions really are to make.

[Kal-El]

Originally Posted by Crandall

The USA spends $720 million a day for the "war" in Iraq. The UN predicts that $25 million would end world hunger; I think the USA could spend their money much wiser.

I don't see how a measly $25M could end world hunger. Maybe for a couple of days?

That would be like giving every hungry person a fish but then what happens for their next meal? That wouldn't be enough to teach them how to fish.

Bill Gates alone, has donated at least $28 BILLION to help poor countries. 1,020 TIMES your $25M example. Look around, is it that much better?

People and societies have to develop their own ways of improving their life styles. Poor countries are poor because they either haven't embraced capitalism or they live under controlled regimes with little freedom and their corrupt governments take any wealth produced.

You can't just give people money and expect things to change. It's why welfare very seldom leads a person to success. And it's why socialistic societies develop very little innovation. Where's the incentive?

[Vioz]

Vote Ron Paul 2012.....many problems would be solved

[PROX4x4]

Originally Posted by Kal-El

I don't see how a measly $25M could end world hunger. Maybe for a couple of days?

That would be like giving every hungry person a fish but then what happens for their next meal? That wouldn't be enough to teach them how to fish.

Bill Gates alone, has donated at least $28 BILLION to help poor countries. 1,020 TIMES your $25M example. Look around, is it that much better?

People and societies have to develop their own ways of improving their life styles. Poor countries are poor because they either haven't embraced capitalism or they live under controlled regimes with little freedom and their corrupt governments take any wealth produced.

You can't just give people money and expect things to change. It's why welfare very seldom leads a person to success. And it's why socialistic societies develop very little innovation. Where's the incentive?

Like IKEA, Volvo, etc.

[detroiter]

Simplest way put is that American politicians DO NOT care about the people and what the publics opinion is, there's no other way of putting it. They care about corporate interest and about keeping their political seat.

The troops should have been brought home a long time ago yet they still keep dicking around on doing that. Really what the American Government does is just try to pull the wool over the citizens eyes. They will say anything they can to bring the public morale up and to believe "things will change, just give it a little bit longer" but it really is not the truth, things are just getting worse in front of our very eyes.

I myself would love to get a well paying, higher educated career but with barely enough money to eat and pay the bills, it's near impossible to finish my College degree without going into a boatload of debt. I truely believe that America is designed in way to keep most everyone in some sort of debt to someone. I mean why not? It makes perfect business sense, someone will always get paid if someone is always in debt. Interest charges, etc. I want to go to school to make more money, not to make more money and then have to give it right back because I owe it to someone. It's contradictory and defeats the purpose.

I really do hope things change for the better in this country but I don't see that happening unless something major (i.e. Iranian style uprising) takes place. I was appalled that not even one politician came forwards and said something along the lines of instead of accepting a paycheck, they will give it to be dispursed to the troops who might not get one if the budget bill did not pass. Just plain sickening how greedy they are. If it wasn't for the troops, they wouldn't even have a job in the first place.



My vote will be going to Ron Paul and I will do everything in my power to get the word out there to throw all this current Washington scum out. With the way most Americans feel lately, I'm thinking that I won't be the only one.