Congress Earns a Credit Downgrade for US
The credit rating agency Standard and Poor’s downgraded the US from a triple AAA rating to AA+ rating yesterday evening.
Deservedly so, since Congress has acted like a drunk with a no-limit credit card. Many people are under the illusion that the President has the power to control all of this. But “Congress controls the purse strings” is a well-known and true adage.
The US Congress should act like a corporation’s board of directors and make decisions that are good for the overall health of the US. They don’t.
The Corporation of the United States is mismanaged.