Skip to comments.S&P warns of a second downgrade
Posted on 08/06/2011 2:11:26 PM PDT by Clairity
One day after lowering the nationâs platinum triple-A credit rating, Standard & Poorâs analysts warned Saturday that the U.S. government could face a second downgrade if the economy continues to struggle and the government fails to make the cuts outlined in the debt ceiling agreement.
The ratings agency on Friday downgraded the nation to AA+ for the first time in history, saying partisanship in Washington is preventing dramatic deficit reduction.
(Excerpt) Read more at politico.com ...
Time to get rid of 0bamacare - that will save trillions.
we need a pro-business president.
BUMP to read later.
0bama wants to destroy the US economy so he can assume “emergency” powers and become a full fledged dictator.
For the short-term, the S&P might be the Tea Party’s best friend.
“0bama wants to destroy the US economy so he can assume emergency powers and become a full fledged dictator.”
Fulfilling the Dream of Radical Black Chicago Socialist George Wiley, founder of the NWRO/ACORN, and buddy of Obama’s Mentor, Frank Marshall Davis.
But, I must be a CRAZY RIGHT-WING NUTJOB for noting these FACTS about Obama, right?
Interesting that this statement and the original both focus of spending cuts.
Memo to Harry Reid:
It’s not the taxes, IT’S THE SPENDING, STUPID
America’s debt downgrade is a damning indictment of President Obama’s Big Government disaster
“The decision by credit agency Standard and Poor’s to downgrade America’s AAA credit rating for the first time in 70 years is a massive blow to the credibility of the Obama administration, and a damning indictment of its handling of the economy. No doubt the White House will pathetically try to blame the Bush Administration, Republicans in Congress, and of course its favourite target, the Tea Party, for the move by S&P.
But without a shadow of a doubt, responsibility for the country’s financial mess and staggering levels of debt lie with the current US president and his administration. They have been in charge of running the economy for over 30 months, during which time the United States has witnessed an unprecedented increase in government spending and borrowing.”
Bring it on.
Yup, and half of the bought voting population support it.
I have experience with rating agencies and I told my family and significant other to expect a series of downgrades perpetuating who-knows-what.
They get on this downgrade cycle and it can’t be stopped. What people don’t realize is that this sort of downgrade constitutes a downgrade to all financial institutions and corporations holding U.S. Treasury debt.
Everybody had better take a deep seat and hope that our leaders don’t decide to disrupt communications, energy, food supplies and travel.
Uncharted waters here.
This is an emergency. We must stomp out all partisanship immediately. Round up the tea-partiers and shoot them. Standard and Poors has ordered it, so their will must be done.
They barely had a enough guts the first time, and they did it two years too late.
This is S&P’s way of telling Obama and his minions
“Don’t tread on me.” I would advise the
“O” administration to watch where they step.
Might as well lower it to XXX rated.
Should be an interesting week, with politicians running scared.,,,,,,and people with 401K’s also running scared.
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