U.S.A. soon in the junk division

When Dagong Global, a Chinese rating agency, degraded the U.S. treasury bonds late last year, the move was met with scorn and ridicule and arrogant laughs from Western commentators.

Now when Standard & Poor's slashed the triple A credit rating of  Uncle Sam, the same commentators are scrambling to explain what's happening.

S&P has already indicated that more credit downgrades may still follow.

It's time for U.S.A. to cut their gargantuan military expenditures and bloated social welfare costs!