Posted on 08/07/2011 8:49:03 AM PDT by RobinMasters
Edited on 08/07/2011 2:58:41 PM PDT by Admin Moderator. [history]
WASHINGTON (AP) -- A Standard & Poor's official says there is a 1 in 3 chance that the U.S. credit rating could be downgraded another notch if conditions erode over the next six to 24 months.
The credit rating agency's managing director, John Chambers, tells ABC's "This Week" that if the fiscal position of the U.S. deteriorates further, or if political gridlock tightens even more, a further downgrade is possible.
(Excerpt) Read more at hosted.ap.org ...
We’ve Been Downgraded by the Downgraded...
hey, keep the pressure on, S & P. you’re doing us a favor.
http://www.politico.com/news/stories/0811/60803.html
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.
From Para-Ord.45, yesterday comes this quote, which needs to be stated often!
-S&P exec John Chambers,
“But $4 trillion would be a good down payment. We thought that..if policy makers could deliver the goods on that, then that would be a strong sign on our political scores and eventually on our projections on the fiscal side.”
S&P has already said it may slash the Triple-A rating if a debt ceiling deal is not accompanied by what it deems is a credible plan to cut the $14.3 trillion federal [debt] by $4 trillion.
S&P’s Chambers is saying the ratings agency wants to see at least a $4 trillion deal, one that would come with bipartisan support.
There was only ever one plan that did what S&P said was required — $4 trillion in cuts with bipartisan support. That’d be Cut, Cap, and Balance — a plan that cut $4 trillion and got bipartisan support in the House of Representatives.
As Democrats tonight, and some Republicans, lash out and blame the Tea Party for causing the United States to lose its credit rating, it is worth pointing out that only the Tea Party offered up a plan to avoid what happened.-
It is not going to help at all. I personally don’t hold debt that is volatile but it will hamper growth across the board. The boy king is learning he isn’t really the king. He has the mental security of a 12yr old.
S&P better watch their backs
i agree he doesn’t get it but the jobs of 535 others are in jeopardy. there supposedly was some kind of agreement on raising the retirement age, even with the boy king, that never got cashed in on. this will happen: it’s only a matter of when.
S&P’s move should send shivers throughout the DC (pronounced Dizzy) circle we call Washington. Unfortunately, the politicians are so blind and incompetent in their ability to do what is needed, the matter is only going to get worst. S&P gives the government a hard whack in the head with a heavy hammer, and the fools are still clueless: always blaming someone else. Are there no mirrors within the Dizzy Circle?????
H
He is a New Yorker who never studied economics, majored in literature and philosophy, and has a master's in English lit.
This first downgrade is too mild and way overdue.
So, if conditions “deteriorate further” there is only a 1 in 3 chance of further downgrade? Should be 100% chance in my book.
S&P is playing politics, giving the Kenyan and his Collectivists WAY too much latitude.
I think one thing we’re going learn as a result of the downgrade is the realization that the debt situation will prove to be far worse than even S&P can imagine. The debt load is so massive, and so out-of-control, that some type of default may be the only realistic option. The only way to turn this problem around and restore confidence is to turn Obama out of office.
I think it’s more like a 3 in 1 chance.
They will never tell you the truth about S.S. It is just a 15% tax to pay for anything and everything above the 9.75 I pay in state, or the 30 I pay in federal.
“Are there no mirrors within the Dizzy Circle?????”
There are ‘mirrors’ but not the glass type you’re thinking of. Instead they are fawning lobbyists, toady congressional staff, and self-interested agency heads that tell them what they want to hear and enable these clueless fools.
lay whatever odds you want. Sounds like a sure thing to me. If it was 20:1 I'd be looking for action.
A Standard & Poor’s official says there is a 1 in 3 chance that the U.S. credit rating could be downgraded another notch if conditions erode over the next six to 24 months.
The unmentionable is to look at what you buy, see where our jobs went and decide to make more of what we import.
I wonder if he can hear anyone now.
Colon Flow alert.
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