S&P downgrades U.S. credit rating [4 Years Ago Today; Obama's War on Prosperity]

cnn ^ | 8/5/2011 | Charles Riley

[SoFloFreeper]

Credit rating agency Standard & Poor's on Friday downgraded the credit rating of the United States, stripping the world's largest economy of its prized AAA status.

In July, S&P placed the United States' rating on "CreditWatch with negative implications" as the debt ceiling debate devolved into partisan bickering. To avoid a downgrade, S&P said the United States needed to not only raise the debt ceiling, but also develop a "credible" plan to tackle the nation's long-term debt.

[SoFloFreeper]

4 years ago, S&P recognized what conservatives were saying in 2008....Valerie and her charge have no plan to help America.

Obama hates the 3 Cs: Christianity, Constitution, and Capitalism.

Here, we see the hatred for Capitalism.

[MarchonDC09122009]

He does appear to favor crony capitalism / fascism.

“Obama hates the 3 Cs: Christianity, Constitution, and Capitalism.”

[Robert DeLong]

To avoid a downgrade, S&P said the United States needed to not only raise the debt ceiling, but also develop a "credible" plan to tackle the nation's long-term debt.

So S&P said kick the can down the road by raising the debt ceiling, but after that you really need to get serious about reducing the debt.

Of course trying to tackle it then and there was irresponsible on part of the Republicans (not that the GOPe stalwearts were serious about it either).

[Robert DeLong]

Dang fat fingers stalwearts=stalwarts.

[M-cubed]

To avoid a downgrade, S&P said the United States needed to not only raise the debt ceiling, but also develop a “credible” plan to tackle the nation's long-term debt.<<<

lmao!...raise debt the ceiling? All politicians will vote for that to save the country from default!!

As to a "creditable" plan to tackle the debt...No politician can vote for that!!....(it would cost them their next election) so they vote for another debt ceiling increase vowing to fight for a "creditable" debt ceiling plan...Look back..it ain't rocket science!!