As much as it might stick in our gullets, or cause our tongues to cleave to the roofs of our mouths, we all should be agreeing with ... man, can we even say this? ... with Los Angeles.
OK.
That was tough.
But it appears that the powers that be in LA recently came to their senses and agreed to dump Standards are Poor after the bullies dumped on the city of angels.
According to an Associated Press report: “The city of Los Angeles will no longer hire Standard & Poor’s to rate its $7 billion general investment pool because the firm recently downgraded the city’s portfolio from AAA to AA.
“Interim Treasurer Steve Ongele says the city has lost faith in S&P’s judgment.”
Not only has S&P dumped on LA and the USA, but Ongele also suggested “the market crash that came with the real estate debacle occurred because rating agencies like S&P gave unworthy corporations AAA ratings.”
Not only that, but NOT using S&P will save LA taxpayers $16,000 a year.
Even in California, $16,000 is real money.
It would be great if more American sectors of power would make similar decisions.
We need to stop just doing business as usual and put our money to good use.
We need to require that our government run more like our private sector does.
We need to insist that our federal government embrace auditing and reporting to the taxpayers who are footing the bill.
We need to demand that all levels of governments, from our schools to our cities and right on up to the Congress, all work on making real spending cuts.
America needs smaller government, and it needs it now.
Los Angeles, as much as we may hate to admit it, made a right call this time.
Maybe that just proves that even a broken clock is right twice a day, or maybe it proves that there are level-headed leaders out there, who really do want to do the job taxpayers have hired them for.
 — Chuck Smith