Simply stated, Moody's is about to downgrade our credit rating again because our rate of spending is not only in deficit, but it is also still growing faster than our revenue increases.
According to Americans for Limited Government, "Right now, although the budget deficit will be about $1.2 trillion this year, the nation's full borrowing obligations will be more like $1.45 trillion once certain off-balance sheet items are taken into account. However, the economy is only growing at an annualized pace of about $570 billion.
This demonstrates clearly that we do not have a revenue problem, we have a SPENDING problem. Read more here.