In a statement that should send chills down the spine of all Americans, economic analysists Moody’s have said that the U.S. has moved "substantially closer to losing their AAA rating", due to "Obama’s unprecedented spending and the Federal Reserve’s emergency measures to fix the financial system are boosting the economy and cutting the risk of corporate failures".
At the same time, Bloomberg reports that the bond market is saying that it’s safer to lend to Warren Buffett than Barack Obama, as "two-year notes sold by the billionaire’s Berkshire Hathaway Inc. in February yield 3.5 basis points less than Treasuries of similar maturity".
This is both staggering and unprecedented. The fact that financial markets are seriously considering the possible that the U.S. government might be forced to default on its debt is … well … words can not express just how dire the situation we are in now is, and just how damaging President Obama’s spending spree really is.
These are dark times indeed.