Skip to comments.U.S. loses AAA credit rating from S&P [copy 2]
Posted on 08/05/2011 5:51:56 PM PDT by NormsRevenge
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 ...
First time in American History too..that’s hope and change for ya
Wow. We’re blazing new territory here, for sure.
We’ll see .. Hope so.
I say Geither resigns on Monday.
Raise the ceiling....raise the ceiling.....and everything will be fine...said Obama and team....
watchoosay. "hope" for America's mortal enemies.
I keep seeing conflicting headlines on this, though. S&P was supposed to "reconsider" just a few minutes ago.
The Administration already put out a disclaimer saying that it happened because of the lack of tax increases and the Tea Party. I guess the Tea Party is the new “Bush”. Everything up to the election will be their fault.
Fer sure, he's out, Corzine's in. That was a done deal a few days ago, I think.
We have mental midgets running this place!
Okay. Now we can stop fooling ourselves and start doing something about it.
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Yep..everything is Bush’s fault..yet incidentally this did NOT happen when Bush was President..at the worst time in Bush’s Presidency this did not happen yet it happened on Obama’s watch..can someone explain to me since I am not very familiar with this at all, what does this exactly mean
Proof half the government and most of the bureaucracy have got to go. The Thoroughbred has been dragged down by its commie parasites for the first time in its history.
Doing some invitations to the hip hop birthday bash...plus, like the Dear Leader says: “markets go up, and then they go down”.
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So who gets the AAA rating?
They did it on a Friday after the markets closed trying to mitigate any negative market reaction.
I’m sure we can spend our way right out of it...oh wait...
I guess the Tea Party is the new Bush. Everything up to the election will be their fault.
I read your link twice and I still can’t figure out what they are trying to say. is j&p reconsidering the AAA rating or are they reconsidering the AA+ rating?
Sure worked when he wanted to increase the cumulative debt of the United States, along with the Democrats.
The tea party were the only adults in the room wanting deep cuts in spending.
Another “Historic” first for this president.
and another piece of news slipped in on a Friday night
Oh, now. Geithner went to the Right Schools.
Even the Post Office is going belly up.
there are 17 nations with AAA ratings. one ratings agency has downgraded the US to AA+. There are 3 ratings agencies.
“We have mental midgets running this place!
Oh, now. Geithner went to the Right Schools.”
LMAO, we found the problem.
Methinks Monday will be a bear. Is the sky falling yet?
I take it that this is old news that BBerg drones are recycling. The "Non-Stop News" feature of their website does that. It can be very confusing when events are moving fast, as, uh, they seem to be here on this hot August night.
Now, what are the homosexual, we are not in the 1800s cool aid liberal drinking preachers are going to say, calling us all by the N word because we are so evil, christian, right wing, Tparty backward, antiprogressist, Obama hating, terrorists going to say.
Yeah, I know the answer, I know these types of people. They will say: hang yourselves, we should all hang ourselves in shame.
Watch them. We are listening to drunks who are persuading America to let them and their government union fat slobs drive the car.
It means that EVERYTHING that Obama wanted in the “debt ceiling” deal, he got - even though the Democrats keep moaning and groaning that they had to give up too much. They gave up NOTHING. Just in one day (as Rush explained today) Treasury has borrowed a huge chunk out of the debt ceiling agreement, about a third of all the “savings” that are supposed to be enacted over a TEN YEAR period (a crock that!). At that rate, the new “debt ceiling” will be reached in no time. Obama is like a kid in a candy store with his dad’s credit card and on a hyper sugar high.
It means we get to spend another 70 billion a year in additional interest payments on the debt as our cost to borrow will increase by about 1/2% because of the lower rating on our US treasury bonds. I am waiting to see how Obama spins this additional spending on our debt service as a jobs creator.
Anyway, it’s a funny kind of irony. Remember how much heat those bozos in congress gave these guys for “selling ratings” on structureds? They demanded that they toe the line on ratings and, uhhh, apparently they are. God bless you, S&P. That took some backbone. Probably long overdue.
Oh. . and I forgot, we just HAD to raise the debt ceiling so that we would keep our AAA credit rating. - You see how that went. I’m sick of being lied to.
Wonder who they are....
So called optimists are in fact cool aid drinkers at the bottom. Doom and gloom is not for patriots, of course, but there is a difference between true people of character/vision and blind optimist fools on welfare.
Raise postage rates, reorganize, streamline and improve efficiency.
Really sad to see people (good people) lose their jobs, though. But it isn't fair to the taxpayers... who have had their benefits slashed, lost their jobs, etc.
McConnell, McCain and Boner should be proud. They defeated the “terrorists” who wanted to cut spending. What asses.
Hmmm, getting losing us the AAA rating is terrorism, basicaly... so, now, who is a terrorist, those who made that secret hedge profit, eh? Could it be Sorros’ buddies in China or Russia, perhaps? Through the post Sorros “philantropic” fronts?
Oh, if you are a Tparty saavy person or a jew, they might point the finger at you, by the way... so cool, you know, and convenient.
All three of them are a bunch of pansies(I wanted to describe them a different way trust me) if they had just listened to us tea party “Terrorists” none of this would have happened. But no, can’t expect some of the RINOS in the GOP to actually do the right thing..but either way, Obamadork is President, its HIS fault..damn and I thought Carter was the worst President ever..this guy tops him
It might also be prudent to ask who sold the protection, and who is going to bail them out.
What it means is also we have an inflation spiral starting. Since the government is going to be the sole one getting the money, the higher the prices.
ANd,, furthermore, the higher the prices, the lesser the future return as time goes by, and, thus, the higher the prices will be set. So, that means martial law and government tickets enforced at the tip of the government bayonet, killing us all? Hmmm
Wow, fantastic, just fantastic.
“So called optimists are in fact cool aid drinkers at the bottom. Doom and gloom is not for patriots, of course, but there is a difference between true people of character/vision and blind optimist fools on welfare.”
Yeah, a couple days ago they were saying we were not going to lose the rating... just like Geitner was telling us there would not be more quantitative easing when there was, or that the unemployment is unexpectedly high.
Now they are going to make us “feel” guilty for adjusting the prices to the inflationary spiral and the usurious debts being used for moralizing us at the tip of the bayonnette, calling us terrorists and unpatriotic unamerican.
I dare them.