Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

US government loses triple-A credit rating [downgraded sans a credible reduction package ]
MSNBC ^ | August 5 2011 | MSNBC

Posted on 08/05/2011 6:08:51 PM PDT by NoLibZone

S&P cut the long-term U.S. credit rating by one notch to AA-plus. The credit agency said late Friday that it was making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation.

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 United Kingdom, Germany, France or Canada.

The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months.

U.S. government officials had been bracing for a downgrade.

Standard & Poor's had warned that the nation's credit rating would be subject to a downgrade without a credible deficit-reduction package worth $4 trillion over 10 years. The package agreed to by congressional negotiators falls well short of that mark.

(Excerpt) Read more at msnbc.msn.com ...


TOPICS: Business/Economy; Culture/Society; Extended News
KEYWORDS: aa; aaa; aaplus; creditrating; cutcapbalance; debt; debtceiling; debtlimit; downgrade; economy; geithner; obama; rating; ratingservices; standardpoors; treaury; triplea; usa2aa

1 posted on 08/05/2011 6:08:55 PM PDT by NoLibZone
[ Post Reply | Private Reply | View Replies]

To: NoLibZone

2 posted on 08/05/2011 6:10:12 PM PDT by NoLibZone (Life as Nancy Pelosi knows & wants it, must end, Life As Nancy Knows it is to raise Debt 10% annualy)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

Thus the reason for the tanking stock market this week...


3 posted on 08/05/2011 6:11:02 PM PDT by oblomov
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

Boehner was warned he had to cut spending.

They didn’t do it even though they knew this would happen.

Throw the bums out.

http://www.youtube.com/watch?v=MqoGORXAv2o


4 posted on 08/05/2011 6:11:58 PM PDT by RummyChick (It's a Satan Sandwich with Satan Fries on the side - perfect for Obama 666)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

Wait I thought the Republicans were to blame for asking in 1 Trillion in cuts over 10 years?

Well at least Obama sounds like he has a nice birthday.


5 posted on 08/05/2011 6:12:47 PM PDT by msamizdat (The only justice is vigilante justice)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

But...they told us we “won” and were too silly to understand what a victory that legislation was. Wow....maybe Boehner got all their “asses” in line for no reason at all? I’d love to hear from the esteemed “Tea Party freshman” that turned their back on the promise to cut spending right about now.

The 22 House members and the few in the Senate who held strong exempted of course.


6 posted on 08/05/2011 6:14:09 PM PDT by Soul Seeker ( I was there when we had the numbers, but didn’t have the pThey may feel bettrinciples.---Jim DeMin)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

I’m way over my head in debt, but I can keep a good credit rating if only my credit card companies keep raising my card limits.

Doesn’t make sense to me either.


7 posted on 08/05/2011 6:14:24 PM PDT by Steely Tom (Obama goes on long after the thrill of Obama is gone)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

Another birfday present for Present Hussein.


8 posted on 08/05/2011 6:15:01 PM PDT by crosshairs (If Sharia Law becomes the law of the land, heads are gonna roll.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

Bought my house on a 3.25% 15 fixed just at the right time. Of course, the section 8’ers across the street make it a little less attractive, but they too shall pass.


9 posted on 08/05/2011 6:15:18 PM PDT by struggle
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

We are a global superpower with the resources of a continent, along with nuclear weapons and a labor force that is second to none and ready to work. Send the Marines to S&P to renegotiate!


10 posted on 08/05/2011 6:16:12 PM PDT by Bryanw92 (The solution to fix Congress: Nuke em from orbit. It's the only way to be sure!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RummyChick; Texas Fossil; EternalVigilance; what's up; Perdogg; ilgipper; txrangerette; DOGHEAD; ...

Boehner was warned he had to cut spending.

They didn’t do it even though they knew this would happen.

Throw the bums out.
///
yep.
but what a victory for only having 1/3 of the government! what a dialogue it started !
now we’re all set to win in 2012...

“The credit agency said late Friday that it was making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough”


11 posted on 08/05/2011 6:17:10 PM PDT by Elendur (It is incumbent on every generation to pay its own debts as it goes. - Thomas Jefferson)
[ Post Reply | Private Reply | To 4 | View Replies]

To: NoLibZone
Unbelievable.

Our interest on our debt as a % of the Federal budget is going to skyrocket.

States are going to be paying Billions more for loans, as will the rest of us for cars, student loans, etc.

Thanks Obama/Pelosi/Reid for the spending binge!


12 posted on 08/05/2011 6:18:49 PM PDT by SkyPilot
[ Post Reply | Private Reply | To 1 | View Replies]

To: RummyChick

Whuuu care! I gotta get my groove on girl! When the next Hip Hop BBQ at the House?!

13 posted on 08/05/2011 6:20:40 PM PDT by SkyPilot
[ Post Reply | Private Reply | To 4 | View Replies]

To: Elendur
This is going around in Twitterland

edhenryTV Ed Henry
And yes Speaker says he walked b/c President added $400B in taxes on top of 1st $800B. But President insists was willing to go back to $800b

Here we go. Another weekend of finger pointing and blaming

14 posted on 08/05/2011 6:20:56 PM PDT by MissyMa
[ Post Reply | Private Reply | To 11 | View Replies]

To: NoLibZone

good goin’ obama!

/s


15 posted on 08/05/2011 6:25:04 PM PDT by ken21 (ruling class dem + rino progressives -- destroying america for 150 years.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MissyMa
The November "Super Congress" (ya know, 6-12 folks who are appointed to some non-Constitutional commission) will be asked to raise taxes and slash defense - and that is what they will do.

Obama will laugh.

Entitlements (Social Security, Medicare, Medicaid) will NOT be cut - even that that is what is killing us!


16 posted on 08/05/2011 6:26:18 PM PDT by SkyPilot
[ Post Reply | Private Reply | To 14 | View Replies]

To: NoLibZone

Wow everyone over at Huffington Post and Democratic Underground (except for the conservative trolls) are screaming FU to the TEA Party for the downgrade.

They are convinced we wanted to destroy the economy - although one poster said that Obama wanted this to force Congress to raise taxes.

Gonna be an ugly Monday.


17 posted on 08/05/2011 6:27:24 PM PDT by 30Moves
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone

MSNBC already edited the story and remove the statement!

I have the original page downloaded if anyone needs it.


18 posted on 08/05/2011 6:31:03 PM PDT by NoLibZone (Life as Nancy Pelosi knows & wants it, must end, Life As Nancy Knows it is to raise Debt 10% annualy)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone
Original article BEFORE MSNBC edited it:

http://i.imgur.com/FhY3W.jpg Original includes:

Standard & Poor's had warned that the nation's credit rating would be subject to a downgrade without a credible deficit-reduction package worth $4 trillion over 10 years. The package agreed to by congressional negotiators falls well short of that mark.

I also have the HTMl of the page prior their change.

19 posted on 08/05/2011 6:35:39 PM PDT by NoLibZone (Life as Nancy Pelosi knows & wants it, must end, Life As Nancy Knows it is to raise Debt 10% annualy)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NoLibZone
but, but 0 said if we'd give him another blank check and a unconstitutional super committee this would not happen.

CONSIDER A DAILY CHANGE JAR TO OPERATE FR

You won't even miss the 25 or 50 cents, but at the end of the month you will have at least $5 to donate so FR can operate smoothly, or you will moan and grown and go into withdrawal when it is down, because of broken parts

20 posted on 08/05/2011 6:36:26 PM PDT by GailA (Any congress critter who fails to keep faith with the Military, will NOT keep faith with YOU!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Bryanw92

S&P not the problem. Send the Marines to Washington to hold the line. The Damn Republicans could not.


21 posted on 08/05/2011 6:37:54 PM PDT by Bailee
[ Post Reply | Private Reply | To 10 | View Replies]

To: NoLibZone

Good to see S&P has more integrity than Moody’s.


22 posted on 08/05/2011 6:40:26 PM PDT by Lancey Howard
[ Post Reply | Private Reply | To 1 | View Replies]

To: Bryanw92
Send the Marines to S&P to renegotiate!

Shame on you, Marine's don't "negotiate" much less renegotiate!

23 posted on 08/05/2011 6:41:37 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
[ Post Reply | Private Reply | To 10 | View Replies]

To: NoLibZone
also have the HTMl of the page prior their change.

"That's good work, McGee."


24 posted on 08/05/2011 6:43:15 PM PDT by Lancey Howard
[ Post Reply | Private Reply | To 19 | View Replies]

To: usconservative

When I said “renegotiate”, I meant it as a euphemism for “kick their ass”.


25 posted on 08/05/2011 7:01:13 PM PDT by Bryanw92 (The solution to fix Congress: Nuke em from orbit. It's the only way to be sure!)
[ Post Reply | Private Reply | To 23 | View Replies]

To: Soul Seeker; Bigtigermike; SERKIT; PieterCasparzen; ctdonath2; RummyChick; Texas Fossil; ...

http://www.freerepublic.com/focus/f-bloggers/2757871/posts

Rush:
There will be a next [Obama] crisis, and it will happen within seven days.(????)

“Rush sounded like Alex Jones yesterday - not content but voice, haggardness and apoplexy. “


26 posted on 08/05/2011 7:07:29 PM PDT by Elendur (It is incumbent on every generation to pay its own debts as it goes. - Thomas Jefferson)
[ Post Reply | Private Reply | To 6 | View Replies]

To: SkyPilot

excellent charts in post 16!
clearly show the “great victory” Boehner won for us...


27 posted on 08/05/2011 7:10:24 PM PDT by Elendur (It is incumbent on every generation to pay its own debts as it goes. - Thomas Jefferson)
[ Post Reply | Private Reply | To 16 | View Replies]

To: NoLibZone

Balanced Budget Amendment???

the debt ceiling, WAS one!!!

...and instead of holding the line, the gave Obama
another 2 trillion to spend!!!

what a great victory Boehner and McConnell won,
for the little girl in your photo, in post #2.

It is incumbent on every generation to pay its own debts as it goes. - Thomas Jefferson


28 posted on 08/05/2011 7:49:34 PM PDT by Elendur (It is incumbent on every generation to pay its own debts as it goes. - Thomas Jefferson)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Bryanw92
When I said “renegotiate”, I meant it as a euphemism for “kick their ass”.

It's very difficult to negotiate with arithmetics, whether you do it politely or not. Killing the messenger won't change the message.

29 posted on 08/05/2011 8:11:14 PM PDT by Greysard
[ Post Reply | Private Reply | To 25 | View Replies]

To: RummyChick; All

Get a grip. The House, under Boehner, passed “Cut, Cap & Balance” — this downgrade is all on the Reid’s do-nothing SENATE and Obama.


30 posted on 08/05/2011 9:30:12 PM PDT by newzjunkey (Get behind ONE "Balanced Budget Amendment" (BBA))
[ Post Reply | Private Reply | To 4 | View Replies]

To: newzjunkey

And then he proceeeded to cut Jim Demint off from trying to get 4 votes to pass CCB.

Oh, and agreed to a Super Congress who CAN raise taxes despite what Boehner claimed to his rank and file..and if the taxes aren’t raised.. the DEMS can threaten granny and DOD.


31 posted on 08/06/2011 5:58:03 AM PDT by RummyChick (It's a Satan Sandwich with Satan Fries on the side - perfect for Obama 666)
[ Post Reply | Private Reply | To 30 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson