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U.S. AAA credit rating DOWNGRADED for first time in history after Obama's debt deal
Daily Mail UK ^ | Aug 6, 2011

Posted on 08/06/2011 7:57:29 AM PDT by KeyLargo

U.S. AAA credit rating DOWNGRADED for first time in history after Obama's debt deal

Unprecedented move will send shockwaves globally S&P cuts long-term credit rating from AAA to AA+ Borrowing costs for consumers and government to rise Comes after Obama signed bill to reduce fiscal deficit

By Daily Mail Reporter

Last updated at 1:08 PM on 6th August 2011

The U.S. has lost its top-notch AAA credit rating from Standard & Poor's in an unprecedented reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA+ on concerns about the government's budget deficits and rising debt burden.

The huge move is likely to raise borrowing costs eventually for the U.S. government, companies and consumers. Investor concern: S&P cut the long-term U.S. credit rating by one notch to AA+ on concerns about the government's budget deficits and debt burden

Investor concern: S&P cut the long-term U.S. credit rating by one notch to AA+ on concerns about the government's budget deficits and debt burden

‘The downgrade reflects our opinion that the fiscal consolidation plan (falls) short of what, in our view, would be necessary to stabilise the government's medium-term debt dynamics,’ an S&P spokesman said. What the downgrade means

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Breaking News; Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: 0nthedownlow; aa; aaa; aaplus; affirmactionplus; chicongo; creditrating; cutcapbalance; debt; debtceiling; debtlimit; downgrade; economy; geithner; heybigspender; obama; obamadowngrade; rating; standardpoors; treasury; triplea; usa2aa
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Congratulations President Obama! First Downgrade in Credit Rating EVER in History

U.S. Credit Downgrade: Another Obama First!

Barack Obama, America’s First Downgraded President

1 posted on 08/06/2011 7:57:35 AM PDT by KeyLargo
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To: KeyLargo
Photobucket
2 posted on 08/06/2011 7:58:29 AM PDT by baddog 219
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To: KeyLargo

I think they knew all along the depbt deal was not going to stop it. They were using it as a scare tactice to build support for its passage all along.

D.C. has a spending addiction pure and simple.


3 posted on 08/06/2011 8:01:23 AM PDT by NavyCanDo
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To: KeyLargo

This is clearly racism. First black president and right away the credit rating gets downgraded. /s


4 posted on 08/06/2011 8:01:34 AM PDT by oldbrowser (They're socialists don't call them liberals)
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To: KeyLargo

Elect Obama. Treasuries subprime.


5 posted on 08/06/2011 8:02:08 AM PDT by Mr. Peabody
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To: oldbrowser
The black caucus will call for an investigation of the rating agencies.
There will be calls for regulation of the ratings agencies.
Holder to investigate for possible racism.
6 posted on 08/06/2011 8:04:11 AM PDT by oldbrowser (They're socialists don't call them liberals)
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Support The Spirit Of Conservatism

Donate To FR


Click The Warhorse To Donate

Consider Donating Monthly!

7 posted on 08/06/2011 8:05:20 AM PDT by DJ MacWoW (America! The wolves are here! What will you do?)
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To: KeyLargo
Another Obama "First"!!!!


8 posted on 08/06/2011 8:05:44 AM PDT by Iron Munro (The more effeminate & debauched the people, the more they are fitted for a tyrannical government.)
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To: KeyLargo
Congratulations President Obama! First Downgrade in Credit Rating EVER in History

Yes, he will be known for many "firsts" before he's canned next year.

A regular ol' Stalin.

9 posted on 08/06/2011 8:06:04 AM PDT by EGPWS (Trust in God, question everyone else)
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To: baddog 219

Epic Fail President.

I’m down with OTP (one term president). Are you?

http://www.youtube.com/watch?v=MddREczVeL4


10 posted on 08/06/2011 8:07:44 AM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: KeyLargo

All over the blogosphere the trolls are blaming the Tea Party.

Finally said to them...if it was such a bad deal...why didn’t 0bama veto it and invoke the 14th?

Answer: Because then he’d own this mess.

Response: He signed the bill into law. He still owns this mess.

It is nice to see a headline calling it for what it is...0bama’s deal.


11 posted on 08/06/2011 8:09:05 AM PDT by EBH (God Humbles Nations, Leaders, and Peoples before He uses them for His Purpose)
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To: baddog 219

Psychology 101

If you start with a cage containing five monkeys and inside the cage, hang a banana on a string from the top and then you place a set of stairs under the banana, before long a monkey will go to the stairs and climb toward the banana.

As soon as he touches the stairs, you spray all the other monkeys with cold water. After a while another monkey makes an attempt with same result all the other monkeys are sprayed with cold water.

Pretty soon when another monkey tries to climb the stairs, the other monkeys will try to prevent it.

Now, put the cold water away.

Remove one monkey from the cage and replace it with a new one.

The new monkey sees the banana and attempts to climb the stairs.

To his shock, all of the other monkeys beat the snot out of him.

After another attempt and attack, he knows that if he tries to climbthe stairs he will be assaulted.

Next, remove another of the original five monkeys, replacing it with a new one. The newcomer goes to the stairs and is attacked.

The previous newcomer takes part in the punishment... with enthusiasm.

Then, replace a third original monkey with a new one, followed by a fourth, then the fifth. Every time the newest monkey takes to the stairs he is attacked. Most of the monkeys that are beating him up have no idea why
they were not permitted to climb the stairs.

Neither do they know why they are participating in the beating of the newest monkey.

Finally, having replaced all of the original monkeys, none of the remaining monkeys will have ever been sprayed with cold water.

Nevertheless, none of the monkeys will try to climb the stairway for the banana.

Why, you ask? Because in their minds... that is the way it has always been!

This, my friends, is how Congress operates... and is why, from time to time, all of the monkeys need to be REPLACED AT THE SAME TIME!


12 posted on 08/06/2011 8:09:19 AM PDT by KeyLargo
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To: KeyLargo


13 posted on 08/06/2011 8:13:19 AM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: KeyLargo
This is because there are no ACTUAL cuts, just "SUGGESTED Cuts" for future Congresses to acy on!!! Or not act on./b>

Stupid President + Stupid Congress = disaster

14 posted on 08/06/2011 8:13:36 AM PDT by cookcounty (Nullius in Verba. "Take no man's word for it.")
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To: cookcounty

They danced till midnight while the Dow peeled off ten percent of its value...


15 posted on 08/06/2011 8:21:00 AM PDT by Eric in the Ozarks (Eh ?)
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To: MVV
obama must consider this downgrade a HUGH success. His entire plan is to destroy the US economy!

Isn't he doing a good job at that!

16 posted on 08/06/2011 8:21:25 AM PDT by mickie
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To: KeyLargo

In other breaking news, Obama is being awarded the Nobel Prize for Economics.


17 posted on 08/06/2011 8:22:24 AM PDT by mnehring
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To: Jack Hydrazine

Newsmax
Downgrade May Cloud Obama Re-election Bid
Saturday, August 6, 2011 08:06 AM

The downgrade of the U.S.’s AAA credit rating by Standard & Poor’s darkens President Barack Obama’s re-election chances while also damaging members of Congress from both parties as they prepare for the 2012 campaign, political analysts said.


I still believe sadly that no matter what, Obama will be reelected in 2012 since half the country is receiving government checks. And they will always vote for more checks and pay raises for themselves. And with the billion dollars of campaign money Obama is accumulating to pay off the media and others Obama will have another four years to complete his change to the death of America.


18 posted on 08/06/2011 8:22:53 AM PDT by KeyLargo
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To: KeyLargo

America’s Rating: The new Standard *is* Poor


19 posted on 08/06/2011 8:25:03 AM PDT by mikrofon (NObama '12)
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To: KeyLargo

20 posted on 08/06/2011 8:25:15 AM PDT by cranked
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To: KeyLargo
Darn that Bush!! He needs to be voted out in 2012!

Oh wait..... (Emilie Lattla) Never Mind.

21 posted on 08/06/2011 8:26:28 AM PDT by 4yearlurker (I've been dipping into my jar full of Hope & Change just to buy gas!!)
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To: oldbrowser
This is clearly racism. First black president and right away the credit rating gets downgraded.

Obama's probably gonna claim someone made him buy this House without letting him read the contract.

"Uh, uhm...I was forced to buy a House that I coudln't afford. I didn't have experience at buying a House, and those bankers and real estate brokers took advantage of me. They told me 'Sign here and everything will be OK'. In reality, they were just a bunch of racists..."

22 posted on 08/06/2011 8:28:31 AM PDT by moovova
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To: baddog 219

Happy Birthday, Mr. President.


23 posted on 08/06/2011 8:30:23 AM PDT by tarotsailor (Black Banana...liberals think he's sweet, conservatives think he's mush, but he makes good bread.)
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To: KeyLargo

About 60 percent (and climbing) of Americans receive some form of government subsidy so, yes, it is still very possible that he could get re-elected in 2012.

Eventually this economic model is going to collapse in upon itself since it is unsustainable at best and lunacy at its worst.


24 posted on 08/06/2011 8:31:02 AM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: EGPWS
Yes, he will be known for many "firsts" before he's canned next year.

Don't bet on it. This turd has bought a huge following. He has at least 50% of the voters and is still paying them off. He has most of the media that reaches the vast majority of America in his camp. Fox is half conservative and Radio that has limited reach. The Tea Party has very limited access to Americans and the GOP are pure failures. We have a long road to hoe and the RATS will push like hell for the next few months until election. Wishful thinking will not save us.

25 posted on 08/06/2011 8:36:23 AM PDT by Logical me
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To: KeyLargo

Happy birthday, Chief-of-commies. At least the Communist Party of America is happy with you.


26 posted on 08/06/2011 8:48:45 AM PDT by madison10
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To: KeyLargo

He won’t win against a halfway decent opponent. I don’t know the proportion of cases where people are just living off unemployment, and not really looking for a job. But I am looking forward to possibly living off unemployment as a
purely miserable time, even as a single person without any debt obligations, and I can’t imagine anyone choosing that voluntarily.


27 posted on 08/06/2011 8:58:14 AM PDT by erlayman
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To: Jack Hydrazine

Knowing how many are on the govt teat, its a good bet he will be in there a second term. All he has to do is “blame whitey” and the masses will gobble it up like candy.


28 posted on 08/06/2011 8:58:24 AM PDT by Soothesayer9
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To: KeyLargo

29 posted on 08/06/2011 9:00:23 AM PDT by pabianice (")
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To: KeyLargo
This, my friends, is how Congress operates... and is why, from time to time, all of the monkeys need to be REPLACED AT THE SAME TIME!

Indeed, tiz time to flush Congress, the bowl is full.

30 posted on 08/06/2011 9:02:52 AM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: KeyLargo

EXCELLENT!


31 posted on 08/06/2011 9:02:59 AM PDT by dannyboy72a (the circuit is closing)
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To: KeyLargo
When this Country was founded, you had to own land to vote. Now you should at least have to pay taxes to vote.

DNC Chairman Debbie Wasserman Schultz:We own the economy’ - June 15, 2011
We're going to hang you, your commie boss and all the dims with this Ms. Wasserman Schultz!

FUBO GTFO 2012 !

32 posted on 08/06/2011 9:08:54 AM PDT by The Sons of Liberty (Psalm 109:8 Let his days be few and let another take his office. - Mene, Mene, Tekel, Upharsin)
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To: baddog 219
Call FreeCreditReport.com


33 posted on 08/06/2011 9:08:56 AM PDT by reg45
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To: baddog 219

34 posted on 08/06/2011 9:17:14 AM PDT by Dubya-M-DeesWent2SyriaStupid! (It is possible to both promote Palin and support Bachmann at the same time, ya know.)
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To: reg45

35 posted on 08/06/2011 9:21:08 AM PDT by Dubya-M-DeesWent2SyriaStupid! (It is possible to both promote Palin and support Bachmann at the same time, ya know.)
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To: Soothesayer9

As I grow older I find it pretty amazing just how many people knowingly or unknowingly allow themselves to be conned over and over and over by the those running the shop in the District of Criminals.


36 posted on 08/06/2011 9:33:59 AM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: KeyLargo

Never forget that this was not just Obama’s bill. This was Bohners bill as well. Forgetting that would make us hypocrites.


37 posted on 08/06/2011 9:34:06 AM PDT by Revel
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To: Revel
>>Never forget that this was not just Obama’s bill. This was Bohners bill as well. Forgetting that would make us hypocrites.<<

I’m thinking the claim that he got 98% of what they wanted is not going to be repeated. Nor will claims of “winning” by the TEA party.

38 posted on 08/06/2011 9:42:35 AM PDT by CynicalBear
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To: Revel
This was Reid's bill.The dems turned down the bill that would have done what the S&P was looking to be done.I am not saying anyone is excempt. They are all a ponzi scheme minus a handful and the tea party. But If Reid's/Obama’s bill were not passed we would have taken a worse hit and then the GOP would have owned it. Obama owns this. It is all an insane mess but the dems lies of raising taxes and pushing granny off a cliff no longer work, you see.
39 posted on 08/06/2011 9:46:37 AM PDT by Dubya-M-DeesWent2SyriaStupid! (It is possible to both promote Palin and support Bachmann at the same time, ya know.)
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To: KeyLargo

Stock Market plunges and U.S. credit rating downgraded. Nice to see that debt limit deal is working out so well. Can we move the presidential election up a year?


40 posted on 08/06/2011 9:46:40 AM PDT by Repeal 16-17 (Let me know when the Shooting starts.)
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To: baddog 219

http://www.youtube.com/watch?feature=player_embedded&v=W4hfdaC7eL4#at=53


41 posted on 08/06/2011 9:46:52 AM PDT by marbren (I do not know but Thank God God knows)
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To: Revel

Hey in the end Obama had final say, he could have vetoed it, so it lays firmly and squarely at his door.


42 posted on 08/06/2011 9:47:14 AM PDT by sunmars
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To: KeyLargo

43 posted on 08/06/2011 9:47:25 AM PDT by Winged Hussar (http://moveonpleasemoveon.blogspot.com/)
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To: Revel

No, Boehner’s bill was Cut, Cap, BBAmmendment. This one had the fingerprints of Reid, Obama, McConell.


44 posted on 08/06/2011 9:48:43 AM PDT by expatpat
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To: Revel

Go research all of the headlines of Obama CELEBRATING the debt Deal

http://www.theatlanticwire.com/politics/2011/08/obama-celebrates-debt-deal-one-michelles-favorite-burger-joints/40794/


45 posted on 08/06/2011 9:49:58 AM PDT by Dubya-M-DeesWent2SyriaStupid! (It is possible to both promote Palin and support Bachmann at the same time, ya know.)
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To: Revel

It is Obama’s to own.

There will now be a challenger to Obama. If Obama gets to a podium and spouts his partisan hackery on Mon he may be impeached.

http://www.bloomberg.com/news/2011-08-06/s-p-downgrade-may-cloud-obama-re-election-bid-even-as-it-damages-congress.html


46 posted on 08/06/2011 9:54:59 AM PDT by Dubya-M-DeesWent2SyriaStupid! (It is possible to both promote Palin and support Bachmann at the same time, ya know.)
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To: Iron Munro

47 posted on 08/06/2011 9:57:48 AM PDT by Dubya-M-DeesWent2SyriaStupid! (It is possible to both promote Palin and support Bachmann at the same time, ya know.)
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To: KeyLargo

So who will be held accountable...

Thats the great thing about ducking leadership....the buck stops nowhere...

or better yet our Politician in chief will stop the buck at the door of his opponents...

No wonder America is on a trajectory of decline.


48 posted on 08/06/2011 10:14:35 AM PDT by Typical_Whitey (Ask a liberal to explain how tax increases create jobs in America)
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To: KeyLargo
Photobucket
49 posted on 08/06/2011 10:27:30 AM PDT by grey_whiskers (The opinions are solely those of the author and are subject to change without notice.)
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To: KeyLargo; NFHale; stephenjohnbanker; sickoflibs
This, my friends, is how Congress operates... and is why, from time to time, all of the monkeys need to be REPLACED AT THE SAME TIME

*public service* was not meant to be a career...!!!

50 posted on 08/06/2011 10:35:26 AM PDT by Gilbo_3 (Gov is not reason; not eloquent; its force.Like fire,a dangerous servant & master. George Washington)
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