S&P Cuts GM Credit Rating Further
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Another nail in the coffin of the American life as we knew it. Baseball, hot dogs, apple pie and Chevrolet (maybe soon Toyota). Never have so many many had it so good, but the average American now owes over 80,000 dollars. Federal debt, pension and health care obligations, personal debt, etc, it adds up. This is not sustainable. We have voted ourselves into prosperity by using easy credit. We are assuming the economy will grow and take care of the debt, but we may be leaving the debt to our kids and grandkids to pay. Time will tell. Every country that was once the world leader thought it would always be the world leader, history has shown this not to be true. The government has become all things to all people, and our kids and grandkids are going to pay it, one way or the other,
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