Adjustable Rate Future

It is our opinion that the recent warning from Moody's Investment Services about the potential downgrade of the credit rating of the United States of America may be the most frightening economic indicator yet to face our new Congress and President. We hope it is a wakeup call to Washington and to each of us – without improved Federal budget deficit management and positive indicators of economic growth, we risk loss of a the coveted AAA Government Bond Rating.

The White House 2010 deficit forecast of $1.565B represents 10.6% of our gross domestic product and is the highest ratio of debt to GDP since WWII – if Moody's acts on its warning, like an increasing adjustable rate mortgage, we would pay more for the same and strain our wounded economy.



It is time for the President, Congress and we American citizens to make the disciplined decisions and thoughtful sacrifices that are necessary to ensure that our domestic and international economy and the US Dollar remain strong in the world’s markets. Each of us has the right (and the obligation) to make a commitment to voice an opinion to Washington leadership before the situation worsens. And we should make use of that right. 

This column was published on February 23, 2010 in the Current in Carmel, Current in Westfield and Current in Noblesville - http://youarecurrent.com/