Investors are growing increasingly concerned that America simply cannot afford Obama and the democrats. Bloomberg reports that interest rates on US debt have recently been higher than those on corporate blue chips such as Proctor and Gamble and Johnson & Johnson.
"It's a slap upside the head of the government," said Mitchell Stapley, the chief fixed-income officer in Grand Rapids, Michigan, at Fifth Third Asset Management, which oversees $22 billion. "It could be the moment where hopefully you realize that risk is beginning to creep into your credit profile and the costs associated with that can be pretty scary."
Pretty much everything associated with Obama and the democrats is "pretty scary."