Blogs For Victory

From Zero Hedge:

First Philadelphia, now San Francisco, and all in the same day. Fasten your seatbelts ladies, the muni maul is going mainstream.

Moody’s Investors Service has downgraded to Aa2 from Aa1 the rating on the City and County of San Francisco’s General Obligation Bonds and assigned an Aa2 rating to the city’s General Obligation Bonds (Earthquake Safety and Emergency Response Bonds, 2010) Series 2010. We have also downgraded by one notch our ratings on the city’s various general fund obligations, including its abatement leases and settlement obligation bonds. The outlook on the city’s ratings has been revised to stable…

I wonder if they mean “stable” in the sense that a corpse is “stable”?

This is the wages of liberalism – they spend, spend, spend and never take a thought for how it will all be made good. San Francisco is bloated with departments and boards and commissions, employing enough bureaucrats to staff an entire nation’s government.

This is just a slight foretaste of what is coming all around the nation. San Francisco is just one of many urban areas of the United States which have been, essentially, under one-party, Democrat rule for decades. They’ve spent themselves in to oblivion, and now the bill has come due. And come due at a time when the States are strapped and Obama won’t be able to get a cent in bail out money through the House.