US to Lose It's AAA Rating?

Because I have called and you refused,
I have stretched out my hand and no one regarded,
Because you disdained all my counsel,
And would have none of my rebuke,
I also will laugh at your calamity;
I will mock when your terror comes,
When your terror comes like a storm,
And your destruction comes like a whirlwind,
When distress and anguish come upon you.
“ Then they will call on me, but I will not answer;
They will seek me diligently, but they will not find me.
Because they hated knowledge
And did not choose the fear of the LORD,

Proverbs 1:24-29

From the Telegraph -

Fitch Ratings has issued the starkest warning to date that the US will lose its AAA credit rating unless acts to bring the budget deficit under control, citing a spiral in debt service costs and dependence on foreign lenders.
Fitch expects the combined state and federal debt to reach 94pc of GDP next year, up from 57pc at the end of 2007. Federal interest costs will reach 13pc of revenues, meaning that an eighth of all taxes will go to service debt. Most fiscal experts view this level as dangerously close to the point of no return for debt dynamics.

Ever wonder how things got to this point? From Bloomberg -

“Dec. 16 (Bloomberg) — Goldman Sachs Group Inc., which got $10 billion and debt guarantees from the U.S. government in October, expects to pay $14 million in taxes worldwide for 2008 compared with $6 billion in 2007.

The company’s effective income tax rate dropped to 1 percent from 34.1 percent, New York-based Goldman Sachs said today in a statement. The firm reported a $2.3 billion profit for the year after paying $10.9 billion in employee compensation and benefits.

Goldman Sachs, which today reported its first quarterly loss since going public in 1999, lowered its rate with more tax credits as a percentage of earnings and because of “changes in geographic earnings mix,” the company said.

The rate decline looks “a little extreme,” said Robert Willens, president and chief executive officer of tax and accounting advisory firm Robert Willens LLC.”

Now compare this with Ed Brown's reported tax dodging sentence of 37 years and ask yourself who the real criminals are?