Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“When the people find that they can vote themselves money, that will herald the end of the republic. Sell not liberty to purchase power.”     Benjamin Franklin

September 23, 2008

Quote Of The Day — Treasury Bonds Lose AAA Status?

by Brad Warbiany

Well, that’s what the S&P rating service is discussing, but they do point out one crucial point allowing them to retain their place:

“As an advanced economy with almost no foreign currency debt — and with the ability to continue to borrow in its own currency — the U.S. ratings face little threat in the foreseeable future.”

That must be nice. I wish I could simply print money to pay off my debts…

A little lesson about government– If I could print money to pay off my debts, I’d worry a lot less about my spending habits. That incentive doesn’t change just because Congress makes the decision.


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