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A local financial advisor has an interesting take on Monday's big announcement from Standard and Poor's, the powerful financial services agency said its downgrading its outlook on U.S. debt. Bill Valentine says this could be a wake up call for politicians to cut entitlements and other big government programs. Bill Valentine with Valentine Ventures in Bend says this is not the tipping point for the U.S. Economy, but it's definitely a good wake up call: “Exactly, there’s no way out of our problem that doesn’t involve politicians upsetting large numbers of people. There’s no group that can be spared. There’s no way, uh, we’ve kicked this can down the road as far as it’s going to go; give or take 3-5 more years. At some point, our political representatives will say- ‘You know what, at this point, the risk of upsetting people, by not doing anything, is greater than upsetting people by making the changes.” An actual debt downgrade would raise the cost of interest payments for the U.S. government, as well as raise borrowing costs for U.S. consumers and corporations. Higher rates would have a crushing effect on the debt-laden U.S. economy. 

 

 

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Traffic & Weather

 

 

 

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 
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