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The stock market is taking a big hit today on the announcement that Standard and Poors downgraded its outlook for its credit rating on U.S. debt. Bend financial advisor Bill Valentine with Valentine Ventures, believes the warning is a good thing because it elevates the dialogue and makes it more likely that politicians will make large policy changes to head off a problem: “It will help people who don't have the slightest background in economics or fiscal policy to appreciate that there's a growing problem. When you see the stock market react negatively, that's the emotional response. To the average Oregonian this is just another warning call, a shot across the bow of the federal government that something must be done. This is not your father's recession;   we can't make cyclical fixes and accounting changes to solve our deficit problems; this is a structural problem.”  Valentine says this problem is arguably 70 years in the making. Standard and Poors says there's about a 33% chance it will actually downgrade the country's AAA rating sometime during the next two years.

 

 

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  • North 3rd St >< Division and O.B. Riley Rd, single lane N-Bound (6/15-8/30)
  • South 3rd St >< Wilson and Reed Ln, single lane closures South Bound 5a-2p (8/30)
  • Construction at 27th Street . Northbound Lane Closed from Ferguson to Bear Creek.  Detour in place.
  • O.B. Riley Road South-bound lane closed south of Mervin Samples Rd (12/17)
  • Butler Market East-bound lane closed E of 4th St. for sewer construction. (12/17)