Jim Rogers made an interesting comment on CNBC business news the other day, when he said; "the United States has already lost its credit rating." What he was referring to was the reality that the credibility of the full faith of the US dollar and U.S. Treasury doesn't mean what it did once before because of all the bickering in Congress, and the inability for them to balance their budget, refrain from spending America into oblivion, and all of the politics involved in getting something simple done such as setting a debt limit, and living within its means.

Okay so, President Obama said it could be utterly disastrous if the United States lost its Triple-A credit rating, and President Obama noted that; "it's not that we can't pay our bills, we can, it's that we don't have a Triple-A Congress to go along with our Triple-A credit rating." Yes, that was a brilliant one-liner for the Teleprompter, but in a way he also has a point, and so did Jim Rogers. The reality is that the United States probably doesn't deserve its Triple-A credit rating considering its actions over the past decade, and we can't blame all that on President Bush, AS the Obama administration has already spent more than the Bush administration did in all eight years that they were in power.

Therefore, one could argue that it would be irresponsible for a rating agency not to lower the US debt rating. After all, if a debt rating agency is being legitimate to its cause, and watching what's happening, they should understand that this government cannot live within its means, and that it borrows 40% of everything it spends.

That's not being fiscally responsible, and it wouldn't really matter if you were a business, or a consumer, that is definitely "unsustainable" and that's the reality. Should the debt rating agencies look the other way, give the US government a pass, or should they do their job, lower the debt rating for the United States, and do what's physically prudent, what follows their mission statement, and addresses the reality of the situation.

Last time things got out of hand during the global financial meltdown and real estate crash, the debt rating agencies were criticized for stamping everything Triple-A when much of it should have been junk status. Therefore, it would be nice to see if they will do their job this time, take everything into consideration, and do what must be done. Indeed, that might actually get the United States government working hard to improve their credit rating by acting more fiscally responsible. Please consider all this thinking.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes writing 24,333 articles by August 3rd at 3:33 PM will be difficult because all the letters on his keyboard are now worn off now..

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