"There is no honor in volunteering to go anywhere in the world and kill anybody you are told to, without question, without historical background and without verifying the stated reasons for doing so."
Economists, Experts: US Is Bankrupt, Second Severe Recession Imminent by Steve Watson
“It seems to me it’s physically, humanly impossible for the U.S. to ever pay off its debt ,” Rogers said. “They can roll it over and continue to play the charade, but the U.S. is bankrupt.”
Rogers’ opinion was seemingly echoed by ratings agencies S&P and Moody’s today, as they warned that the US could be downgraded again before 2013.
S&P Executive John Chambers told Fox News that a partial reason for Friday’s downgrade was due to the fact that the US political system has proven itself to be “dysfunctional”.
“I think that’s a good word.” Chambers said. “We got to a position where we were within ten hours of having a major cash flow problem. This is not what happens in other countries.”
“Even before the financial crisis, the fiscal path was unsustainable: an ageing population combined with extravagant social security commitments suggested either the need for massive tax increases or draconian spending cuts,” said King.