by Bill Baker, J.D.
Editor and Publisher, The San Bruno Beacon

Obama and the Democrats in Congress have screwed things up so bad that Moody's Investor Service is warning that the US Government's AAA sovereign credit rating is in jeopardy. When Moody's drops the rating for U.S. sovereign debt to Aa or A, which they will probably do within the next 5 years, the scheisse is going to hit the proverbial fan as interest rates skyrocket.

As I observed in my earlier article titled, CHANCE OF TOTAL U.S. ECONOMIC COLLAPSE BY 2020 GROWS AS OBAMA BUDGET RAISES FEDERAL DEBT AS A PERCENTAGE OF GDP FROM 53% TO 81.7%:

"Why is this U.S. public debt as a percentage of gross domestic product (GDP), [debt-to-GDP] calculation, so important and what does it mean?

The U.S. debt-to-GDP calculation is a measurement of the ability of the United States to make future payments on the debt and interest on debt that it owes. Therefore, the debt-to-GDP number is a measurement of financial leverage. The higher the debt-to-GDP percentage, the higher the risk that the United States will default on its national debt and the interest owed on that debt. As the debt-to-GDP number grows, the United States must pay a higher rate of interest to issue new debt to cover the higher risk reflected in the higher debt-to-GDP number."

The Heritage Foundation stated that the Congressional Budget Office estimates the Obama Budget will increase U.S. National debt as a percentage of GDP to 81.7%. Moody's says that  the 81.7% number is too low and observed:

“Using the general government measure [debt-to-GDP percentage], including state and local governments as well as the federal government, which is used internationally, this ratio would be well over 100 per cent in 2020.”

That's the same conclusion that I came to in the above-mentioned Beacon article I wrote.

Moving on to other news, it appears that the Democrat Mayor of Harrisburg, Pennsylvania, the capital city of the Democrat controlled State of Pennsylvania, is presiding over a city that has been skipping millions of dollars in debt service payments, raising taxes, and doing what Democrats all across the United States do best; creating a financial disaster whereever they are elected. Harrisburg is now considering Chapter 9 bankruptcy protection.

Democrats love to squander and waste taxpayer money, give their conies high paying government government jobs and tax the hell out of everything and everybody they can get their hands on.