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S&P warns of a second downgrade
Politico ^ | August 6, 2011 | Josh Boak

Posted on 08/06/2011 2:11:26 PM PDT by Clairity

One day after lowering the nation’s platinum triple-A credit rating, Standard & Poor’s 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 ...


TOPICS: Breaking News; Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: aa; aaa; aaplus; balance; balancedapproach; bipartisan; collapse; credit; creditrating; cutcapbalance; debt; debtceiling; debtlimit; default; dncrico; downgrade; economy; geithner; highertaxes; kingofthedeficit; obama; obamasfault; reid; seconddowngrade; sp; standardandpoors; standardpoors; taxandspend; taxes; triplea; usa2aa
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Nothing wakes up Obama and the Dems, either that or they quite knowingly are destroying the US, freedom and capitalism.
1 posted on 08/06/2011 2:11:30 PM PDT by Clairity
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To: Clairity

Time to get rid of 0bamacare - that will save trillions.


2 posted on 08/06/2011 2:13:05 PM PDT by Post Toasties (Leftists give insanity a bad name.)
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To: Clairity

we need a pro-business president.


3 posted on 08/06/2011 2:13:34 PM PDT by ken21 (ruling class dem + rino progressives -- destroying america for 150 years.)
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To: Post Toasties

BUMP to read later.


4 posted on 08/06/2011 2:14:30 PM PDT by Paperdoll (BUMP)
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To: Clairity

0bama wants to destroy the US economy so he can assume “emergency” powers and become a full fledged dictator.


5 posted on 08/06/2011 2:14:43 PM 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: Clairity

For the short-term, the S&P might be the Tea Party’s best friend.


6 posted on 08/06/2011 2:16:27 PM PDT by LdSentinal
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To: ken21
we need a pro-business America president.
7 posted on 08/06/2011 2:18:44 PM PDT by bigbob
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To: The Sons of Liberty

“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?


8 posted on 08/06/2011 2:19:19 PM PDT by tcrlaf (PREFRONTAL LOBOTOMISTS FOR OBAMA2012!)
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To: Clairity

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


9 posted on 08/06/2011 2:19:51 PM PDT by plangent
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To: Clairity

America’s debt downgrade is a damning indictment of President Obama’s Big Government disaster

http://www.freerepublic.com/focus/f-news/2759718/posts

“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.”


10 posted on 08/06/2011 2:22:20 PM PDT by Clairity ("The United States needs to be not so much loved as it needs to be respected." -- VP Dick Cheney)
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To: Clairity

Bring it on.


11 posted on 08/06/2011 2:23:07 PM PDT by bgill
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To: The Sons of Liberty
0bama wants to destroy the US economy so he can assume “emergency” powers and become a full fledged dictator.

Yup, and half of the bought voting population support it.

12 posted on 08/06/2011 2:23:50 PM PDT by Logical me
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To: Clairity

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.


13 posted on 08/06/2011 2:24:12 PM PDT by elkfersupper (Member of the Original Defiant Class)
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To: Clairity

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.


14 posted on 08/06/2011 2:24:42 PM PDT by Eleutheria5 (End the occupation. Annex today)
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To: Clairity
They won't have enough guts.

They barely had a enough guts the first time, and they did it two years too late.

15 posted on 08/06/2011 2:27:20 PM PDT by E. Pluribus Unum (Palin is coming, and the Tea Party is coming with her.)
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To: Clairity

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.


16 posted on 08/06/2011 2:27:44 PM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: Clairity

Might as well lower it to XXX rated.


17 posted on 08/06/2011 2:29:57 PM PDT by crosshairs (If Sharia Law becomes the law of the land, heads are gonna roll.)
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To: Clairity
What? You think this train wreck is over?
18 posted on 08/06/2011 2:32:13 PM PDT by Delta 21 (Make your choice ! There are NO civilians.)
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To: Clairity
As distasteful as it is, at least someone is holding the elected officials feet to the fire and may actually force them to do something that the electorate on its own could not do.

Should be an interesting week, with politicians running scared.,,,,,,and people with 401K’s also running scared.

19 posted on 08/06/2011 2:32:26 PM PDT by Robert357 (D.Rather "Hoist with his own petard!" www.freerepublic.com/focus/f-news/1223916/posts)
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To: crosshairs

Good one!


20 posted on 08/06/2011 2:32:38 PM PDT by lonevoice (schizophrenic hostage taking hobbit terrorist)
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To: tet68

——This is S&P’s way of telling Obama and his minions
“Don’t tread on me.”-——

The S&P guy responsible for the ruling was interviewed today by Niel Cavuto. He was not apologetic and stood up strong for the down grade.

Niel asked if other nations had been down graded before. He answered yes.

Neil asked how long it generally took to have the rating reverted to AAA.

He answered..... well, about 8 or 9 years!


21 posted on 08/06/2011 2:33:02 PM PDT by bert (K.E. N.P. +12 ....Flash mobs are trickle down leftwing REDISTRIBUTION))
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To: ken21

Well, that is certainly true. Eradicate the anti-business socialists and their cushy jobs. We have the technology to get rid of 50% of boots on the ground IMHO. (Speaking of EPA, NIH, FDA, OSHA etc.)

Of course the first eradication is all unfunded mandates, top of the list “OBAMACARE”.


22 posted on 08/06/2011 2:33:55 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: Clairity

The S&P guy responsible for the ruling was interviewed today by Niel Cavuto. He was not apologetic and stood up strong for the down grade.

Niel asked if other nations had been down graded before. He answered yes.

Neil asked how long it generally took to have the rating reverted to AAA.

He answered..... well, about 8 or 9 years!


23 posted on 08/06/2011 2:34:31 PM PDT by bert (K.E. N.P. +12 ....Flash mobs are trickle down leftwing REDISTRIBUTION))
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To: Clairity
Photobucket
24 posted on 08/06/2011 2:34:50 PM PDT by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
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To: bert
He answered..... well, about 8 or 9 years!

I saw that too, but it was even more dire. He said it took 9 - 18 years. OMG.

25 posted on 08/06/2011 2:35:11 PM PDT by lonevoice (schizophrenic hostage taking hobbit terrorist)
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“Trash-talk us some more, and we’ll downgrade you to ‘junk.’”


26 posted on 08/06/2011 2:35:28 PM PDT by Cboldt
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To: tcrlaf

I’m not a conspiracy theorist, but on this point I can see it happening. I’ve never read Mr. Wiley, and when I have time, I’ll look into it.

BUT........I still have this feeling that Obama is a two-termer. Don’t ask me why, it’s just my gut talking. But, if a President (with dictatorial ambitions, regardless of party) really did want to be a dictator, what better way to do it then by creating an emergency?

So, let’s say it all goes to hell starting on Monday (August 8th, 2011) with a major stock market crash. Let’s say a nice slow one, and by the end of the week, the DJIA loses 40 to 50% of its value. Bank runs, Wal-Mart runs, ‘flash mobs’ in the streets, in other words, higgeldy-piggeldy. Let that brew for a little, and voila! you have “civil disorder”.

And that’s exactly the pretext needed to declare a “State of Emergency”. Depending on far our hypothetical President is willing to go, suspension of habeus corpus, certain articles of the Constitution, perhaps the dissolution of the House and Senate as well (that’d be a little harder to pull off). And lets say, we can really kick off the “civil disorder” around June, next year. In other words, low-intensity for the time being, but really kick it up a notch starting next summer.

Bada-bing! You can “indefinitely postpone” the 2012 elections.

And there you go. And, thanks to various Executive Orders, mostly Cold War relics, all nice and legal. Kind of like an American version of the Enabling Act.

Am I being paranoid? Or prophetic? Only time will tell......


27 posted on 08/06/2011 2:37:12 PM PDT by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
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To: Clairity

And STILL the GOP has a hard time putting anyone up to get excited about for POTUS...amazing how awful the GOP is right now.


28 posted on 08/06/2011 2:38:04 PM PDT by My Favorite Headache (In a world where I feel so small, I can't stop thinking big.)
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To: Clairity

They are saying it is the TEA party that caused the down grade.


29 posted on 08/06/2011 2:40:45 PM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: bert

“Neil asked how long it generally took to have the rating reverted to AAA.

He answered..... well, about 8 or 9 years!”

I heard him say 9 to 18 years.


30 posted on 08/06/2011 2:46:36 PM PDT by shove_it (just undo it)
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To: AnAmericanAbroad

BLOAT and BLOFT

Get ready.


31 posted on 08/06/2011 2:46:59 PM PDT by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: AnAmericanAbroad

All of the liberal support he received in my neck of the woods have already dumped his propaganda machine. I live in conservative country tho and the 46 million on food stamps will vote for him.

Interest rates will begin the climb back up. If one has CC debt or an ARM had better get prepared.


32 posted on 08/06/2011 2:49:04 PM PDT by eyedigress ((Old storm chaser from the west)?)
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To: Clairity
I'm not adverse to the predictions of Obama wanting a full-blown financial crisis (a real one, this time) that will trigger massive upheavals in the markets and result in riots in the streets, allowing Obama to declare a national emergency and, through various laws, assume dictatorship of the U.S. However, this is America, not Europe. We have no tolerance for dictators, no matter the rationale. I don't believe that Obama could pull it off. Of course, I could be wrong. I didn't believe that America would ever elect a man with virtually no accomplishments and a distinct anti-American outlook as their president - and a Democrat congress to go with him - but they did. Scary thoughts.

That having been stated, I think the ramifications of this S&P downgrade may be a tad overblown but there definitely will be consequences. While the Democrats desperately attempt to blame Republicans and the TEA party, it is imperative that the GOP pound Obama on this very significant, negative result of his economic policies. Knowing Republicans, they probably won't but knowing Sarah Palin, my choice for president in 2012 and a lady who isn't afraid to take it to Obama, I'm sure that she will.

33 posted on 08/06/2011 2:52:59 PM PDT by Jim Scott ( "Game On!" - Sarah Palin)
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To: Clairity

“Nothing wakes up Obama and the Dems, either that or they quite knowingly are destroying the US, freedom and capitalism.”

Yes, this is what Obama wants to do. But it doesn’t have to be like this. We can stop him; he isn’t all powerful.

This nation is presently run by crazed socialists! Once the dollar is no longer the international reserve currency, then the brown icky-stuff hits-the-fan - assuredly.

Five hundred years ago the Ming Emperors in China and the Ottoman Empire along the Mediterranean were the greatest powers on Earth. No one living then would have expected that by the next Millennium a rustic Europe and wilderness in North America would have brought about an industrial revolution and enriched many people in the world millions of times over!

But the Muslim fools who caused 9/11 expected the U.S.A. to crumble from a terrorist attack. We did not oblige them by doing so.

Everyone seems to underrate us. Europeans never expected the U.S. to make it after the Civil War, but we fought a war with Spain, then with China, then WWI and came out stronger than ever.

During the Depression we were hit with a debilitating environmental catastrophe causing a “dust bowl” in the Midwest, and all while paying very high taxes. Then came the attack on Pearl Harbor and WWII. Still, we came out stronger.

As you probably guess, I don’t see this as necessarily a bad situation but an opportunity.

We should chuck the United Nations off our shores, for starters, and the IMF after them. Hey, they won’t need our dollars anymore, now will they?

I do not support isolationism, but I know this nation can be energy independent.

I know we can feed ourselves and export any leftovers.

I know we have technological know-how. Hell, that’s why the Chinese are always stealing ideas from us!

Are there people who will riot? Sure, but they’re probably the same folks who riot after football and basketball games. Go figure!

Right now we need some time to get ourselves reorganized along Constitutional constructs and change to a tax system, either Flat or Fair, which will generate more jobs and revenue.

We must bring our military home from policing the rest of the world. I’m sure you’ve noticed the rest of the world really doesn’t appreciate our efforts.

Screw ‘em.

We’ve had the technology to launch ourselves into the Third Industrial Revolution for thirty years or more. Then we can laugh hysterically watching other nations try to catch up from their failed experiment in the socialist utopia known as ‘Globalism’.”


34 posted on 08/06/2011 2:59:25 PM PDT by SatinDoll (NO FOREIGN NATIONALS AS OUR PRESIDENT!)
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To: Clairity

Obama: MISSION ACCOMPLISHED
posted by Wayne Allyn Root on Aug 05, 2011

By Wayne Allyn Root, Former Libertarian Vice Presidential Nominee

Barack Obama is my college classmate (Columbia University Class of ‘83). I tried to warn the country that virtually all of my classmates and professors were marxist, despised America, and wanted to bring down capitalism. I tried to warn the country that Obama would follow the detailed plan of two Columbia professors named Cloward and Piven- a plan designed to destroy capitalism by overwhelming the U.S. economy with government spending, regulations, entitlements, taxes and debt.

That is precisely why I authored one of the most popular commentaries on the entire Internet in 2010 entitled “The Obama Economic Plan- Purposely Overwhelming the System to Cause Crisis and Destroy Capitalism.” I predicted Obama’s radical tax and spend policies were designed to crash the system with debt, bring us to our knees, starve business owners (the biggest contributors to his political opposition), make us all doubt capitalism, and dependent on big government. It’s all come to pass.

I’ve written about this plan for 2 ½ years now. My commentaries have predicted the destruction of the U.S. economy under Barack Obama, the decimation of small business and the middle class, and the start of not only the Obama Great Depression, but what I called “the Greatest Depression ever.”

READ AT:

http://www.lp.org/blogs/wayne-allyn-root/obama-mission-accomplished


35 posted on 08/06/2011 2:59:38 PM PDT by KeyLargo
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To: Clairity

The GOP should immediately put CCB back up for a vote. (Let the phony moderate Dems show their true colors again in voting against it during this debt crisis).


36 posted on 08/06/2011 3:02:08 PM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: Clairity

They should also warn the administration that they’re ready to sue if libeled. Asserting that this rating agency has made an error is injurious to their business, if it’s even true. And how is the administration going to explain away another rating downgrade?


37 posted on 08/06/2011 3:03:52 PM PDT by OldNewYork
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To: Clairity

There’s much wishful thinking disguised as fear on the part of bipartisan socialists, that President Obama will take over as a dictator. But history speaks the real fear: that our leadership of the future will be quite nationalist in nature.

And most Americans know it as well as most others. And no, the new leadership won’t be anti-Israel—impossible, as 85% of Americans are much in favor of Israel. ...won’t be anti-ethnic, either but only anti-foreign and against contemporary political correctness. So wishful thinking about pitting American sub-groups against each other is futile.

Boo! Deal with it.


38 posted on 08/06/2011 3:07:03 PM PDT by familyop ("Plan? There ain't no plan!" --Pigkiller, "Beyond Thunderdome")
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To: SatinDoll

Sounds great. Now how to keep the hordes of union, Rainbow Push, Acorn, welfare and even the dead from voting Rat? That isn’t going to happen soon. Try like...the next generation?


39 posted on 08/06/2011 3:12:27 PM PDT by endthematrix (The Name of the Game is BAILOUT.)
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To: Clairity

*


40 posted on 08/06/2011 3:20:24 PM PDT by PMAS
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To: Clairity
"S&P warns of a second downgrade"

A downgrade to something around a _C_ would help to prevent media sponsors and political participants from stealing so much from bond investors.


41 posted on 08/06/2011 3:21:11 PM PDT by familyop ("Plan? There ain't no plan!" --Pigkiller, "Beyond Thunderdome")
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To: Clairity

Why hasn’t the Chairman of Standard and Poor’s been commanded to appear before the Emperor for a beer summit?


42 posted on 08/06/2011 3:23:49 PM PDT by CholeraJoe (When they rename the Paddy Wagon, I'll stop complaining about Racist Democrats.)
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To: tcrlaf
“0bama wants to destroy the US economy so he can assume “emergency” powers and become a full fledged dictator.”

Does he have this wet dream every night? Probably. Will it ever happen? Not as long As Justice Kennedy has all his marbles and the overwelming support of the Military in our back pocket.

43 posted on 08/06/2011 3:25:56 PM PDT by DAC21
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To: PMAS

Open up our energy resource spigot, and we own the rest of the world.

Irrigate the San Joaquin, and we feed millions.

Build polywells all over, and everyone here gets energy for peanuts.

Flat tax everyone @ 18%, and everyone pays their own personal fair share. The IRS gets operated in only one building.


44 posted on 08/06/2011 3:29:37 PM PDT by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto.)
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To: tcrlaf

I know worshippers who get angry when you tell them obama is trying to destroy the country. Scary they still think that way.


45 posted on 08/06/2011 3:31:36 PM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: Clairity

No problem Obama.... just raid their offices again.

They love it when you do that kind of stuff.


46 posted on 08/06/2011 3:33:22 PM PDT by Safrguns
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To: combat_boots

They’ll just come after our 401Ks.

What’s left of them...


47 posted on 08/06/2011 3:37:45 PM PDT by TSgt (When in the Course of human events...)
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To: SatinDoll
During the Depression we were hit with a debilitating environmental catastrophe causing a “dust bowl” in the Midwest, and all while paying very high taxes. Then came the attack on Pearl Harbor and WWII. Still, we came out stronger.

Yes we came out stronger! Why? Because back then we all had to scrape and work hard to make ends meet or just to avoid starvation. Family and neighbors were the source of generosity when we stumbled to our knees. Government did put some to work, but the depression did not end until WWII brought our heavy industry back to work and after then the demand for personal goods denied during the war kept the recovery going.

Compare that to now. No heavy industry (or any industry to speak of). 47% of the population pay no income taxes; food stamps, welfare payments, ADC money, unemployment insurance keep a whole subclass of the population from having to do what the population did in the depression years. The 2010 census documents this -- high percentages of low and very low income families have all the trappings of the middle class: Two cars, a home, two or more color TV's, frig, washer/dryer etc., free medical care (medicaid). These people are making (or reporting) minimum wage incomes.

Where are these "luxuries" coming from?? The answer is obvious -- their income is coming at the expense of the other 53% who DO pay income taxes. The War on Poverty "successes" of previous administrations assures that the population can live comfortably without working hard for that reward. Now why would anyone expect them to vote for anyone who does NOT promise more or continued benefits as they have been getting for the past 20 years or so? They won't because they have been living the good life on the backs of the rest of us.

Now call me cynical, but you know I'm right -- drive down a main street to a "poorer" part of town, any town. Notice the lack of pride in the homes and yards, notice the shiny new car in front, the wide-screen TV picture seen through the window, the graffiti on every wall or empty building. These people will say they are poor, can't get a job, experience racism, etc., i.e. class warfare as proclaimed every day by Democrats including the president. But the truth is its an attitude that the current generation has come to expect government goodies. If they had to face the fact that reward and self esteem come from hard work as their grandparents/great grandparents did, they would get that education, compete for that better job and understand that a reward is not a monthly government check.

48 posted on 08/06/2011 3:38:56 PM PDT by CedarDave (For Sarah Palin news and updates, place "Keyword: palin" into your FR sidebar)
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To: endthematrix

WOW! You are so pessimistic.

My thesis is...the U.S.A. ain’t finished yet.

But now we are bankrupt. No mo’ moola. The “hordes”, as you put it, can vote Democrat all they want but it doesn’t mean they’re going to get much, if anything.

It is time to cut government drastically.

Every state in the Union has a department of education. The Feds don’t need one. Abolish it - NOW!

Social Security should be overhauled, and it doesn’t need to infuriate our elderly. Notice: ELABORATE WELFARE HOUSING DEVELOPMENT
http://www.youtube.com/watch?v=fu6ok5ykyuQ&feature=youtu.be

Here is a $225MILLION development in Tacoma WA (Salishan) that was built for Illegal Immigrants! 1325 Homes created! Refugee Pay offers them $2642 per month in SSI benefits, plus Food Stamps, plus Section 8 Housing. You will see new expensive cars in this video. Wouldn’t you like to get a free ride like the illegals?

Deport illegal aliens - NOW!

We are only limited by courage, determination, and the lying skanks in the lame-stream media.


49 posted on 08/06/2011 3:38:56 PM PDT by SatinDoll (NO FOREIGN NATIONALS AS OUR PRESIDENT!)
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To: Clairity

Time to IMPEACH 0bama.


50 posted on 08/06/2011 3:43:03 PM PDT by LiveFreeOrDie2001 (Best Cook on Free Republic! ;-))
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