Right Opposition

Moody’s is warning that the United States could lose it’s top ranked credit ranking because of rising deficits. This is an important warning which politicians should be listening to.

If the government’s credit rating drops it will have effects that will echo throughout the global economy. First of all, the government will have to pay more on its debt. That’s bad news because it will raise the deficit more or require deeper budget cuts.

Second, if the government’s rates go up it may create pressure on other debt rates or interest rates. The government occupies such a large part of the credit markets that anything that happens to it has an impact on everyone else.

Remember, the only way for the government to raise is money is to print it, causing inflation for everyone, or raise taxes which everyone pays in some way.

It’s time to cut the deficit by taking bold, courageous steps to reign in the growth of government.

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