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Some Clear Thinking About America’s “Downgrade”
by Simon Black Sovereign Man
Last week, the credit rating agency Fitch downgraded the US national debt.
Predictably, senior officials like Treasury Secretary Janet Yellen claimed Fitch’s “flawed assessment was based on outdated data” and that the downgrade was “entirely unwarranted.”
What a joke.
Just consider the US government’s surging interest payments on the national debt—
This Fiscal Year (which ends on September 30) the Treasury Department expects to spend a whopping $897 billion just to pay interest on the national debt. That’s up SEVENTY PERCENT over the past three years. It’s an unbelievable turn for the worst.
The national debt is already more than $32.6 trillion, and it’s climbing rapidly thanks to unrestrained spending.