U.S. loses AAA credit rating from S&P

Yahoo.com via Reuters ^ | 8/5/11 | Walter Brandimarte

[GQuagmire]

NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.

U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada

[xzins]

I must confess that Greta Van Susteran has a point here. She continually says, “S&P is a big part of this problem because they gave AAA rating to Fannie & Freddie while they were bundling worthless mortgages from buyers who couldn’t afford them. They helped cause the mortgage crisis. And now they’re gonna pass judgment on those fooled and injured by their phony AAA ratings? Why should we listen to them?”

This place is an asylum and the inmates are in charge.

[Aria]

I personally wouldn't mind going back to previous tax rates IF and only IF all the money was for paying down existing debt, there was a balanced budget amendment, the “baseline” annual government increase in spending was cut to zero, and there was NO WAY the rats could spend the extra tax money.

Otherwise, I refuse to endorse giving the spendalcoholics more alcohol.

[JimSEA]

You’re correct clearly. How any political deck chair rearranging would help is doubtful.

[KansasGirl]

We could lower the long-term rating to ‘AA’ within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.

I see ABSOLUTELY NOTHING about the lack of tax increases as the BO Admin was trying to say!

[ding_dong_daddy_from_dumas]

Yeah, the racist tea party terrorists are holding the USA hostage!

Meanwhile, Schumer, Rockefeller, and company raise hell because the GOP tried to trim the pork from subsidized ($3800 per ticket) regional airports, some of them with only one passenger per flight.

What's wrong with this picture!!!!

[Signalman]

[Biggirl]

To be very honest, as of today or rather yesterday, Obama is TOAST in 2012. He is for all purposes, FINISHED, a ONE TERMER.

[KansasGirl]

Tax revenue WENT UP after the Bush tax cuts took effect. Deficits were down until we handed the .gov over to the Rats.

[Fishtalk]

Some how, some way, they’ll blame it on the Republicans.

[Clairity]

“S&P also cited dysfunctional policymaking in Washington as a factor in the downgrade. “The effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges.”

http://money.cnn.com/2011/08/05/news/economy/downgrade_rumors/index.htm?hpt=hp_t1

Republicans better keep this quote so they can put it in anti-Obama ads.

[Brandonmark]

[PastorBooks]

“Did I leave anything out?”
^^^^^^^^^^

8. “The Christians!”

9. “Global warming! Global warming!”

10. “Global population is too many. We must have more abortions!”

And on, and on, and on...

[Clairity]

Funny you are upset with Republicans, but NOT with Obama and the Dems.

[PMAS]

These are probably the only two “A’s” that this POS Obama every got.

[Alberta's Child]

Funny how the same rating agency that listed all those fraudulent U.S. mortgage-backed securities as AAA-rated doesn’t thing the U.S. government deserves a AAA rating anymore.

[PastorBooks]

“I want them on every talking head show screaming it this weekend!”
~~~~~

I think they were planning on having a good cry...

and then later to attend the evening cocktail with their Dem buddies.

The life of an elite is SO demanding!

[Carry_Okie]

This is BS. We can print enough money to cover anything.

[Road Warrior ‘04]

Well, well, well! Another Friday evening (bad) news dump!

[DAC21]

Notice Bambi convinced S&P to announce it at 8 ‘clock on a Friday. Won't help the little punk come the opening bell on Monday.