Downgrade on Debt but not the Job Market?

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• Published on Monday, 11 July 2011 13:00

        If congress doesn’t agree on increasing the debt ceiling, standard and poor’s, Moody’s and the rest of the credit rating agencies are threatening to downgrade the U.S. credit rating. The long and unending debates by congress has left Americans so confused, people just want to get this over with while the financial facts will be left a mystery. One party stresses the lack of resources to fund Social Security and other government operations while the other insists funds are still available to cover government operations. This can go on and on and on…. I for

one just want to hear about the real numbers, which brings me back to why I ask financial agencies why only now are they bringing up downgrading the U.S. credit rating? Since the IT bubble in the 90’s America has continued to lose jobs. As years went by jobs continued to get outsourced as these financial agencies reported how millions of jobs will remain lost and millions more are forecasted to get off shored. Where were the warnings before? For years the U.S. spent trillions in fruitless wars, exports continued to decline, the housing crashed yet no warnings? It’s even worse when companies race to move their headquarters overseas to escape taxes. America came to be a superpower because of jobs that enabled ordinary Americans to live the American dream, this meant hard working Americans that got paid and were able to buy houses or cars. All in all it kept the economic engine of America going. Economic reports a struggling U.S. consumer yet on the flipside companies claim growing profits abroad by the way, China is now the largest auto market in the world. What the U.S. needs is a credit downgrade due to poor job creation, the last thing we need is a positive credit rating inflated by more debt.