yea that too, especially that 
Posted on 08/05/2011 5:51:21 PM PDT by GQuagmire
NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.
S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.
U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada
(Excerpt) Read more at news.yahoo.com ...
Obama buttboys Wolf Blitzer and Ali Velchi ALREADY all over CNN blamming the Tea Party.
Not too worry. 0bama has his goons on the way to S & P as we speak to “fix” this error as we speak. The AAA rating will restored after this minor “correction”.
The WH knew about it all week long. Wall Street probably caught wind of it this morning, hence the uncertainty today.
I can’t believe how many idiots are blaming the Tea Party. How long has the Tea Party even been in office? Two years maximum?
Decades of spending by the left and right and we are blaming the tea party?
I am so confused.
Are people that stupid? Apparently they are. Reading dozens of Facebook posts and other news comments.
"
OHHHH....and here I thought it was F*** YOU...
If only John Kerry had convinced the media to not give equal time to the Tea Party sooner, all of this might have been avoided...
Lol! That part was a given!
A little birthday gift for 0...
How much do you want to wager, lol? I'll take those odds.
Obama and his communist buddies are fist-bumping while breaking out the Wagyu beef, lobster, arugula and expensive champagne to celebrate.
yea that too, especially that
“I knew I shoulda pulled out last week”
I wish Obama’s dad who ever the hell that is would have just pulled out Hence Nobama
Yes we did know he was bad. Personally speaking, I honestly had no idea that it would ever get THIS bad.
For anyone who loves this land we live in, this person is an unmitigated disaster.
Obama has caused this under his term as President. He will go down as the worst President ever.
The only silver lining is that this will hurt his reelection chances even further. Even your average wall-sitting independent voter will realize that this downgrade and the resulting economic impact happened on Obama's watch. That's a superficial way to view it, but many Americans are superficial bordering on superstitious.
The more nuanced view... well, jeez, that's even worse. The more you actually understand what Obama's done to the economy, the less likely you'd be to vote for him.
Standard & Poor’s issued a statement Friday about their downgrade of U.S. debt:
S&P downgrades U.S. debt
We have lowered our long-term sovereign credit rating on the United States of America to ‘AA+’ from ‘AAA’ and affirmed the ‘A-1+’ short-term rating.
We have also removed both the short- and long-term ratings from CreditWatch negative.
The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics.
More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.
Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government’s debt dynamics any time soon.
The outlook on the long-term rating is negative. We could lower the long-term rating to ‘AA’ within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.
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