Because the U.S. Government has taken no positive and proactive steps to contain trillions of dollars in deficits, it faces the prospect of another rating cut in six to 24 months depending on the outcome of November elections. Lowering the debt rating means the U.S. pays higher interest rates on the money it borrows… if it can borrow.
COMMENTS:
Our Congress and our President don’t seem to give a damn
about our country's financial condition. Now, if
your banker doesn’t give a damn about your account, what do you do? Yes, we need to change Congress completely
and we need to boot our President into some third world country where he’ll be
more comfortable.
TODAY’S QUERIES & ANSWERS:
Q. I understand there is another election in Russia for
President, and I thought Putin was already in the job. What gives?
(Javier ~ San Clemente, CA)
A. Putin ran into serious opposition to his plan to move
from the Premier spot back into the Presidency. He was President before being
Premier, but his term limits were up and he switched jobs with the Premier and
kept control. Now, however, the
political climate in Russia has changed dramatically in the last two months and
Putin no longer has a lock on power.
Q. I keep hearing that the fall of Greece’s economy could
set off a worldwide catastrophe. Can you
explain? (Todd ~ Tremonton, UT)
A. The whole world is now economically tied together, thanks to being off the gold standard. China’s growth could drop four more percentage points if
Europe’s economic crisis worsens and causes large declines in credit and
output. Such a drop would devastate
China’s economy and, because of their ties to the rest of the world, things
could very well snowball into world depression of the worst kind.
Q. Let me hear you explain one more time why Obama’s
insistence that the Catholic Church offer its employees health insurance that
includes free contraceptives and the “morning after” pill is a national issue
as opposed to just an issue with the Catholic Church. (Carlton ~ Bismarck, ND)
A. The Obama Administration dictate is a direct violation of
the doctrine of separation of church and state.
If Obama and his goon squad get away with this, they can demand that
churches pay taxes, or that churches can only have services on the fourth
Sunday of every February. It’s just
another sinister grab of power from the people to the White House.
TODAY’S QUOTE:
“A just laicism allows religious freedom.
The state does not impose religion but rather gives space to religions with a
responsibility toward civil society, and therefore it allows these religions to
be factors in building up society.” ~ Joseph
Ratzinger
TODAY’S VIDEO:
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