how about 17,000 more IRS employees for a start, all able to ignore HIPPA, as they dole out fines, penalties, and the judgment on the 'worthiness' of your insurance....and the democrats complained about the patriot act...
this is how we pay interest on the debt, wanna guess what those rates will look like after the AAA rating kissed off?
Moody’s warns: USA may lose AAA Bond rating
October 23, 2009 Bookmark and Share
The United States my lose its AAA rating if it can not control its deficit hike, rating agency Moody’s Investors Service warned on Thursday. Steven Hess, Moody’s lead analyst for the United States, said in a TV interview that the AAA rating of the United States is “not guaranteed.” He said if the US deficit does not drop to a sustainable level in the next three to four years, the US rating will be “in jeopardy.” The US government posted a record deficit of US$1.417T in the FY ended Sept. 30. Stimulus package to combat the severe recession and a series of bailout rescues to banks and automakers have put a heavy burden on government spending..http://stockpreacher.com/2009/10/23/moodys-warns-usa-may-lose-aaa-bond-rating/
Oh, we were warned:
China sells $34.2bn of US treasury bonds
Analysts fear Beijing's move may suggest a loss of faith in American government's economic policy
Chinese premier Wen Jiabao has said he is 'a little bit worried' about the safety of his country's investments in US bonds.
China sold $34bn (£21.5bn) worth of US government bonds in December, raising fears that Beijing is using its financial muscle to signal that it has lost confidence in American economic policy.US treasury figures for the period ending in December 2009 show that, following the sale, China is no longer the largest overseas holder of US treasury bonds. Beijing ended the year sitting on $755.4bn worth of US government debt, compared to Japan's $768.8bn.
Since the sub-prime crisis that began on Main Street USA grew to engulf the global economy, China's leaders have repeatedly expressed concerns about US policy. December's $34bn sell-off made only a tiny dent in Beijing's total holdings of US assets, which amount to well over $1tn when stakes in American companies, as well as treasury bills, are taken into account.
But the news intensified concerns about China's appetite for bankrolling ever-widening American deficits. Premier Wen Jiabao told reporters last year: "We have made a huge amount of loans to the United States. Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried."http://www.guardian.co.uk/business/2010/feb/17/china-sells-us-treasury-bonds
and more recently:
Concerns grow over China's sale of US bonds
Evidence is mounting that Chinese sales of US Treasury bonds over recent months are intended as a warning shot to Washington over escalating political disputes rather than being part of a routine portfolio shift as thought at first.
By Ambrose Evans-Pritchard, International Business Editor
Published: 5:42PM GMT 23 Feb 2010
A front-page story in the state’s China Information News said the record $34bn sale of US bonds in December was a "commendable" move. The article was republished by the National Bureau of Statistics, giving it a stronger imprimatur.
It follows a piece last week in China Daily, the Politburo’s voice, citing an official from the Chinese Academy of Sciences praising the move to "slash" holdings of US debt. This was published on the same day that US President Barack Obama received the Dalai Lama at the White House, defying protests from Beijing.http://www.telegraph.co.uk/finance/currency/7300770/Concerns-grow-over-Chinas-sale-of-US-bonds.html