How Can US Debt be Rated AAA?

[G.L.R.]

How Can US Debt be Rated AAA?

*

*

*

*

You're in your shiny Ferrari, going 150 miles per hour on a smooth highway, when you suddenly realize you're heading straight toward a cliff at the edge of the Grand Canyon.  You can slam on the brakes and pray your car stops in time, or you can put the pedal to the metal and play out the final scene of Thelma & Louise.  That's all there is — unless you're the United States of America, in which case you have a third option right out of a Roadrunner cartoon:  America's national debt is rapidly approaching $29 trillion, a hole we dig wider and deeper at a pace of roughly $5 trillion a year.  We currently owe $7.1 trillion of our debt to foreign countries. Our debt per citizen is nearly $86,000. ... If the United States were a corporation, it would be insolvent — deep in debt, unable to pay its bills, the greatest bankruptcy in the history of the universe.  The U.S. maintains an AAA credit rating, the highest rating possible, from the Big Three credit-rating agencies...

*

*

Biden and his handlers.  If China owns a huge chunk of US debt, then it might explain why Biden is personally up to his ears in them

*

An AAA rating reflects an extremely high ability to pay back interest and debt. There are only two companies — Microsoft and Johnson & Johnson — that have AAA ratings... The United States is a huge money loser that can't pay off its debt or even the interest on its debt. The only way it stays out of default is by printing money, which is a one-way ticket to hyperinflation ... No reasonable person can look at how much we owe and how much we're spending and conclude that we'd be solvent if we didn't keep printing money we don't have. But every time we do that, we generate higher inflationary pressures and a weaker dollar...  If our creditors, most specifically China, wise up and stop loaning us money, we won't have the money to maintain our military spending — or any federal spending.  Printing money does nothing but generate higher inflationary pressures and a weaker dollar. The average interest rate on the federal debt at the beginning of this year was about 1.7%. That means we can expect to pay over $500 million to service existing debt this year alone. It means eliminating or drastically cutting expenses across the board, including many entitlements and benefits and social programs our citizens have come to expect from the government.  The pain that every American will feel will be horrible and life-changing, but it must occur at some point, because the longer we wait, the harder it will be to fix things — if isn't already too late.  The US is the world's financial engine. Its currency, the dollar, is the world standard. It's the biggest domino. If it tumbles, all the others will follow.

*

https://www.thegatewaypundit.com/2021/08/can-us-debt-rated-aaa/
_source=Email&utm_medium=the-gateway-pundit&utm_campaign=dailyam&utm_content=daily