How many of you actually heard about another downgrade to the credit rating of the U.S. last week? Didn’t think so. Hoosier Patriots found it in a report from a foreign source (again), the Russian International News Agency (RIA Novosti), which appeared in the Patriot Update on Monday, April 9th.
Apparently, when White House officials were queried about the downgrade, they called a news briefing last Thursday, April 5th, and the regime effectively told the press to keep this critical event behind the curtain. They referred to the news as a “non story” and told the press to treat it that way, so the American people wouldn’t be shocked and/or confused. We couldn’t find mention of it in any of the major media, so apparently the press obeyed their masters. So much for our “free press” folks…
It’s difficult to discover what is actually happening to our country when the White House orders a news black-out, and our compliant state-run media acquiesces to government demands. The White House told the press to keep the lid on it, so the “repeaters” posing as reporters did as they were told. Independent has now become “obedient”. The importance of this downgrade to AA was ignored.
Here are the details, and who made the downgrade:
Egan Jones Rating Company downgraded the USA’s rating to a AA, with a negative forecast. The reason given was the fact that the U.S. public debt has exceeded 10% of the country’s GDP. Between 2008 and 2010, the U.S. debt has increased 23.6%, while the our GDP gained a measly 1.6% during that same period. Egan Jones says the debt will reach 106% of our GDP by “late 2012″.
Note: Egan Jones downgraded the U.S. rating a month before Standard & Poor’s did, back in July, 2011. Egan Jones was also the only rating firm to downgrade MF Global, long before its bankruptcy in 2011. It is sponsored by independent investors, completely independent from major financial institutions and was founded in 1995.