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Copper Catcher
Administrator
USA
2092 Posts |
 Posted - 04/10/2009 : 19:27:01
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Moody’s Investors Service assigned a negative outlook to the creditworthiness of all local governments in the United States, the agency said Tuesday, the first time it had ever issued such a blanket report on municipalities.
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So, what does this mean to you and me? In short, this means it will cost more for cities and counties across America to borrow money for things like building schools and other infrastructure needs. In turn, this will mean they will have to raise taxes in order to pay for the additional costs or cut services. What do you think is going to happen?
In closing you might have heard the old saying about seeing a light at the end of the tunnel. Unfortunately, in our case, it is train heading directly for us and it is not slowing down one bit.
What say you?
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redneck
1000+ Penny Miser Member
1273 Posts |
Posted - 04/10/2009 : 19:58:07
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quote:
So, what does this mean to you and me? In short, this means it will cost more for cities and counties across America to borrow money for things like building schools and other infrastructure needs. In turn, this will mean they will have to raise taxes in order to pay for the additional costs or cut services. What do you think is going to happen?
Why I think they are going to do what our fore fathers would have done like reduce and limit government, give the power back to the people to make choices,reducing taxes and ..............
Hey...
Quit shaking me...!
What...?
Time to wake up...?
What...?
I was talking in my sleep...?
I said what...?
I didn't even know I was a sleep...
I guess I must have been dreaming...!
Yup.......
That's right...
Just dreaming......
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All local government bonds are downgraded!
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