Source: Antiwar.com
by Ron Paul
“Last week, Moody’s Ratings lowered the United States credit rating. Fitch Ratings and S&P Global Ratings had already lowered the US rating. This new downgrade was driven by Congress’s failure to make any efforts to reduce the almost 37 trillion dollars national debt. When Moody’s made its announcement, the House Budget Committee was scrambling to get the votes to pass legislation extending the 2017 tax cuts. … Tax cuts are always worth supporting because they advance liberty and sound economics by ensuring the people have more and the government has less. However, tax cuts that are not combined with real spending cuts are delayed tax increases. This is because cutting taxes without cutting spending leads to more debt that leads to higher taxes.” (05/20/25)