Skip to comments.U.S. AAA credit rating DOWNGRADED for first time in history after Obama's debt deal
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 ...
Congratulations President Obama! First Downgrade in Credit Rating EVER in History
U.S. Credit Downgrade: Another Obama First!
Barack Obama, Americas First Downgraded President
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.
This is clearly racism. First black president and right away the credit rating gets downgraded. /s
Elect Obama. Treasuries subprime.
Another Obama "First"!!!!
Yes, he will be known for many "firsts" before he's canned next year.
A regular ol' Stalin.
Epic Fail President.
I’m down with OTP (one term president). Are you?
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.
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!
Stupid President + Stupid Congress = disaster
They danced till midnight while the Dow peeled off ten percent of its value...
Isn't he doing a good job at that!
In other breaking news, Obama is being awarded the Nobel Prize for Economics.
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 & Poors darkens President Barack Obamas 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.
America’s Rating: The new Standard *is* Poor
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