A credit rating is Standard & Poor's opinion on the general creditworthiness of an obligor, or the creditworthiness of an obligor with respect to a particular debt security or other financial obligation. Over the years credit ratings have achieved wide investor acceptance as convenient tools for differentiating credit quality.
Instant View: S&P revises U.S. outlook to negative
What does all this mean to you?
Even though there are a large number of individuals who have tried to down play the importance of the U.S.'s credit rating as being much a due about nothing this is anything but the truth. The common theme being put forth today is raise taxes on the rich and on corporations.
As an example of what raising taxes means on these persons and entities let me give you a little example. The company I work for is about to automate a part of the facility. Why? because of tax increases by the government. What does this mean? About 200+ individuals are going to be put out of work Why do they do this? Because
you don't want to pay higher prices for the product they produce. So it is either pay people considerably lower wages and benefits or replace them with automation. Add to this newer and more stringent EPA regulations, higher energy costs because of green energy desires and personal greed for that almighty government entitlement programs and presto you now have a world in which the only jobs your children have to look forward to is working at McDonald's or Walmart for the rest of their lives.
A nations economy is based on manufacturing, not on lawyers, bankers or some other white collar endeavor with a college education, these are support rolls only and when the money from manufacturing stops the need for these types of occupations stop with them. Don't believe me look at china and other countries of the world who have taken over that roll from the U.S.
Again lets take a look at the facility where I work, nothing
not one thing that we use to operate that plant comes from the U.S. it is all made in other countries. Just 30 years ago that was not so. That means in realistic terms millions of good paying jobs that were once held by Americans are now gone because they were driven out of this country by government greed, the wanting of government hand outs and the environmentalist agenda.
I make nearly as much as the average college educated individual with none of the debit incurred for that college education. Yes I am skilled labor with my education coming from on the job training, but what does that knowledge mean to places like Home Depot or some other retailer? Absolutely nothing so instead of making real money that benefits others due to my wealth caused by the production of a good that is sold by those retailers to others I could be making minimum wage in order to keep my head above water with no real ability to advance my self or my children, this is the fate that awaits our children and grandchildren.
So put your hands back into your pockets and stop demanding government hand outs, taking care of each other is what we used to do. If we don't do it now the IMF will do it for us later. Look at Greece they no longer have a say in their fiscal affairs and the IMF is about to tighten their rein over that country some more, that's what happens when you become a debtor nation and the U.S. is no exception and is much closer to that point than you think.
If you would like to find out more I have created the
Understanding Government Debit located at the top of the page.
Contributed by: Don Wilson
