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On Mon, 18 Apr 2011 23:52:09 -0400, wrote:

On Mon, 18 Apr 2011 20:01:48 -0700, wrote:

On Mon, 18 Apr 2011 22:05:07 -0400, wrote:

Talk to the Greeks. UK is scaling back it's social services too.

You talk to the Greeks. We're not Greece.

S&P says all 3 of us have the same debt rating.

You keep beating that drum but I don't hear it.

You must be deaf then.
Every dime in that trust fund is debt, not an asset.
We will have to borrow all of the money we "pay back" since the
government is already spending all they take in, actually 166% of what
they take in. Where does the money come from to redeem the SS bonds?

Whatever... same old nonsense over and over.

Denial does not make the problem go away.

The next step from S&P is to lower the bond rating to AA and that is
what they are threatening. That could easily add $500 billion to our
interest payments. They are pegging the chance of a downgrade at 1 in
3.

I am sure you would never have believed we would get a negative
rating. It is the first time it has happened.

The next step is for S&P to get their credibility mojo back.