[Hoot Gibson]

The Republican and Democrat Parties are racing to collapse our economy. Democrats are winning the race but both parties are taking us toward the same finish line.

As bad as Trump and the Republicans have been on handling the nation's finances, Joe Biden is promising worse to come with huge tax hikes and even more deficit spending than Trump. When hyperinflation hits this country, there will be no place for any of us to hide and hyperinflation is in our future. We have a culturally and academically semi-literate electorate that have proven themselves to be more gullible with each election combined with candidates who are willing to promise anything to hang on to their fiefdoms. It is a lethal combination.

U.S. Gets a Debt Warning From Fitch as Stimulus Battle Rages

(Bloomberg) -- One of the world’s major credit-rating companies fired a warning shot regarding the U.S.’s worsening public finances on Friday, just as lawmakers in Washington contemplate spending more to combat the economic fallout from the coronavirus pandemic.

Fitch Ratings revised its outlook on the country’s credit score to negative from stable, citing a “deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan.” The country’s ranking remains AAA.

“High fiscal deficits and debt were already on a rising medium-term path even before the onset of the huge economic shock precipitated by the coronavirus,” Fitch said. “They have started to erode the traditional credit strengths of the U.S.”

Unemployment has skyrocketed and the U.S. economy just notched up its worst quarter on record, with pandemic-related shutdowns helping drive an annualized gross domestic product contraction of 32.9% in the three-month period through June. And with infections still spreading rapidly in many states, the virus’s damaging impact on output looks set to continue.