I'm thinking, we are a third world country?

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The strength of the USA was always new ideas and innovation which created jobs.

Very true. With the government providing for so many, we have no reason to be innovative. That's a bit of an exaggeration perhaps, but I sincerely feel that more and more dependence on the government is cheating us all.

The education system was the envy of the world but it is being eroded.

My personal opinion is that we've gone away from academics to telling children they are special, which is somehow magically supposed to increase their self-esteems so that they'll study harder. Self-esteem comes from facing a challenge and working very hard to achieve it. That self-esteem is highly earned and no one can take it away.

[PetMom]

When we were told by the President to contact our officials about the financial logjam - I commented to one of mine that 'we would become a third world country' if something was not
done budget wise.

The jaunty answer I got? We already are a third world country! (this official is not up for reelection so flip answers like that can go over ok).

Maybe we are just a little above a third world country with our basic amenities - but these basics are becoming more expensive. Water, food, electricity. Even air conditioners (and guess what - people have to fence and lock their outdoor central units or they get stolen for the metals).

Oh and healthcare and medicine.

Big Pharma, big business and big govt. with all the power and money getting richer.

And what about our literally crumbling infrastructure.

The uncontrolled borders?

The drug cartels moving on in from Mexico with their armed gangs running roughshod (just like in thrid world countries).

Our education being cut to nothing, just like in thrid world countries.

We are not one, but we are not a first world country like we used to be.

And now our national credit rating, just like a third world country.

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And now our national credit rating, just like a third world country.

We dropped down a notch, but there are several notches below us.


From S & P's website


S&P | Ratings Credit Ratings Definitions & FAQs | Americas


‘AAA’—Extremely strong capacity to meet financial commitments. Highest Rating.
‘AA’—Very strong capacity to meet financial commitments.
‘A’—Strong capacity to meet financial commitments, but somewhat susceptible to adverse economic conditions and changes in circumstances.
‘BBB’—Adequate capacity to meet financial commitments, but more subject to adverse economic conditions.
‘BBB-‘—Considered lowest investment grade by market participants.
‘BB+’—Considered highest speculative grade by market participants.
‘BB’—Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions.
‘B’—More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments.
‘CCC’—Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments.
‘CC’—Currently highly vulnerable.
‘C’—Currently highly vulnerable obligations and other defined circumstances.
‘D’—Payment default on financial commitments.

[PetMom]

Should have worded that: and now our credit rating going down and there is nothing we can do about it, just like a third world country. Except just accept the new limitations, higher interest, lower ranking, etc...just as you or any of us would be concerned about our CR taking a step down we should be as a nation.

[Snodog]

The third world post, is just a quote to get peoples attention! And it did! My meaning is this: Shouldn't we take care of our people first. Bring back our jobs and put people to work. Work=money=spending! So simple. People with money buy...Food,clothing,houses,cars,TV,etc...!
People with no jobs: no money=no spending.Reling on government handouts not handup's.Bankruptsy,forclosure,foodstamps,bad credit,homelessness. A child could figure this out. But it seem's to me, the politcal machine is in bed with the big business. Any thoughts on this??

I agree with you 100% it is simple. We(the people)could fix this economy in a matter of months with the correct policies(it ain't rocket surgery). But like you said there is so much corruption and probably nothing will change until people hit the streets.

[Tobby782]

Definitely not 3rd world yet, unless you count Detroit, ha, ha, JK Detroiters. This rating downgrade should have probably happened a long time ago anyway.

[Tobby782]

Definitely not 3rd world yet, unless you count Detroit, ha, ha, Just kidding Detroit. This rating downgrade should have probably happened a long time ago anyway.

[snafu]

Snodog: One thing that keeps 3rd world countries so poor is the graft and corruption of small to large power holders. Your elected officials are shiny truth in comparison. Bureaucrats do not require bashish [different terms in each country] or bribes to accept your paperwork as is the common practice elsewhere. You needn't hire an intermediary for a driver license renewal or a passport etc.

I've often thought it would be so beneficial to send unemployed to 3rd world countries for 3 months in a Peace Corp or UN type program to understand what poverty looks like - up close. University profs and media talking heads should be required to live off-shore before writing/describing other countries and their cultures.

[gloriachargersxoxo85]

not yet, but we are on our way to become one..

[rj.phila]

Your elected officials are shiny truth in comparison.

i guess it's all relative, but this quote brought a chuckle. revolving door? there's blurry line btw public and private sector in alot of ways here.

also, it's not fair to talk about america as a homogenized place. if it was 2004-2005 and you lived in NOLA, then yes, your american experience was very close to 3rd world. if it was 2007 and you lived in the upper east side of NYC, then no. there's a myriad of experiences in the USA...some are quite close to 3rd world.

[Krazykat]

Snodog: One thing that keeps 3rd world countries so poor is the graft and corruption of small to large power holders. Your elected officials are shiny truth in comparison. Bureaucrats do not require bashish [different terms in each country] or bribes to accept your paperwork as is the common practice elsewhere. You needn't hire an intermediary for a driver license renewal or a passport etc.

I've often thought it would be so beneficial to send unemployed to 3rd world countries for 3 months in a Peace Corp or UN type program to understand what poverty looks like - up close. University profs and media talking heads should be required to live off-shore before writing/describing other countries and their cultures.

wow. That is wrong. That is grouping all the unemployed as one and placing blame on their situation on them. they don't live in a third world country, they live in America. They paid for those employment benefits. Our American companies lay off our workers and go to those third world countries for cheap labor, relaxed laws, low taxes, little if any regulation.

[Krazykat]

not yet, but we are on our way to become one..

How is that? Greece isn't one and it has double our unemployment rate as many other countries.