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$2 trillion error in S&P calculations: US (treasury challenging)
AFP/Breitbart ^ | 8-5-11

Posted on 08/05/2011 8:37:42 PM PDT by STARWISE

The US Treasury has hit back against a Standard and Poor's downgrade of its AAA credit rating, saying there was a $2 trillion dollar error in the agency's calculations.

"A judgment flawed by a 2 trillion dollar error speaks for itself," a Treasury spokesman said, just after the US lost its AAA rating for the first time ever and was downgraded to a AA+.

*snip*

Moody's and a third ratings agency, Fitch, say they continue to study the deficit plan to see if the US merits being kept in their ranks of AAA countries.

Earlier, an official close to the discussions with S&P said: "There are deep and fundamental flaws with the S&P analysis."

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: aaarating; currency; default; economy; error; sp; treasury; zimbabwe
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1 posted on 08/05/2011 8:37:49 PM PDT by STARWISE
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To: STARWISE

Typical commie tactic. Try and discredit all outside experts other than your own.

Obama is a vile and evil man.


2 posted on 08/05/2011 8:39:23 PM PDT by Carling (At some point, those surrounding Obama have to realize that they are working for a psychopath)
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To: STARWISE

that 2 Trillion really matters on the 100 Trillion we owe....sarcasm intended.


3 posted on 08/05/2011 8:39:27 PM PDT by Freddd (NoPA ngineers.)
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To: STARWISE

It’s always somebody else’s fault with these gangsters, isn’t it?


4 posted on 08/05/2011 8:40:09 PM PDT by clintonh8r (Happy to be represented by Lt. Col. Allen West (this tagline under review))
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To: STARWISE

It’s because the government counts reductions in increases as cuts and real accountants do not.


5 posted on 08/05/2011 8:40:09 PM PDT by Ingtar (Together we go broke (from a Pookie18 post))
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To: Ingtar
It’s because the government counts reductions in increases as cuts and real accountants do not.

Good point!

6 posted on 08/05/2011 8:41:00 PM PDT by tsowellfan (Let's make the 2012 campaign: "The War on Error")
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To: STARWISE

It’s because the government counts reductions in increases as cuts and real accountants do not.


7 posted on 08/05/2011 8:41:29 PM PDT by Ingtar (Together we go broke (from a Pookie18 post))
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To: STARWISE

The Treasury has been cookin’ the books for years and years and they accuse S&P of doing the same? Pot meet kettle!


8 posted on 08/05/2011 8:41:53 PM PDT by Road Warrior 04 (I miss President Bush greatly! Palin in 2012! 2012 - The End Of An Error! (Oathkeeper))
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To: STARWISE

Fox news said even though there was a challenge over the math, they downgraded us anyway.


9 posted on 08/05/2011 8:42:50 PM PDT by sheikdetailfeather ("Kick The Communists Out Of Your Govt. And Don't Accept Their Goodies"-Yuri Bezmenov-KGB Defector)
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To: STARWISE

“Alinsky-nomics”


10 posted on 08/05/2011 8:43:10 PM PDT by Cringing Negativism Network (We are not tea partiers ... we are good tea partiers. Life-long tea partiers)
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To: STARWISE

Its ALWAYS someone else’s fault.
Next time it will be BIGFOOT’s fault.


11 posted on 08/05/2011 8:43:19 PM PDT by Zathras
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To: STARWISE

We have a guy who cheated on his income taxes making a math challenge? That’ll fly.


12 posted on 08/05/2011 8:43:28 PM PDT by SueRae (I can see November 2012 from my HOUSE!!!!!!!!)
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To: Carling

Vile, beyond description. That he’s presided over
this debasement .. first time in our these momentous
and proud 235 years.

DAMN him!


13 posted on 08/05/2011 8:44:28 PM PDT by STARWISE (The overlords are in place .. we are a nation under siege .. pray, go Galt & hunker down)
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To: Carling

ditto.

where were our pubies?


14 posted on 08/05/2011 8:44:28 PM PDT by ken21 (ruling class dem + rino progressives -- destroying america for 150 years.)
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To: STARWISE

Is the regime using tactics its usually reserved to use against conservatives and TEA partiers, now focusing them on S&P?


15 posted on 08/05/2011 8:44:51 PM PDT by C210N (0bama, Making the US safe for Global Marxism)
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To: STARWISE

The only thing worse than having Geithner as the head of Treasury is the rumor that Corzine would be the next nominee.


16 posted on 08/05/2011 8:45:25 PM PDT by SueRae (I can see November 2012 from my HOUSE!!!!!!!!)
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To: STARWISE

Thus speaketh turbotax timmy.


17 posted on 08/05/2011 8:46:59 PM PDT by meyer (We will not sit down and shut up.)
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To: SueRae
We have a guy who cheated on his income taxes making a math challenge? That’ll fly.

How do you put a tax cheat in charge of Treasury? That alone should disqualify Obama from office.

18 posted on 08/05/2011 8:47:32 PM PDT by Rocky (REPEAL IT!)
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To: STARWISE

Well, it sure ain’t NObama fault! Nope, no sir, not his fault, no way, no how, no sir.

/s


19 posted on 08/05/2011 8:47:48 PM PDT by chris37 (representative)
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To: ken21

Where are the pubbies? Has anybody made a statement on this debacle? Obama’s tactic seems to be and destroy the entire bond credit rating system, which while bold, is not a surprise at all.

IT’S ON, AND THE GOP IS GOLFING.


20 posted on 08/05/2011 8:48:16 PM PDT by Carling (At some point, those surrounding Obama have to realize that they are working for a psychopath)
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