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

[Varsity Flight]

Yes, along with #122 and the govt. media “life-coaches.”

I repeat, Vampire-Care, was suppose to be their solution. As EVERYTHING effects “health.” So EVERYTHING is subject to tax leverages.

However, due to the Vampire-Care bribes for passage, the full force does not begin until 2013.

Notice, that even at high unemployment, gas (and food) prices are still astronomically high. Gas which should be AT LEAST below 2.00 (should actually be at .69 cents), remains between 3.00-4.00.

Severe inflation (already here), desentized frog in the frying pan, with taxes and the target date of 2013.

[GeronL]

I know that. You know that. But the MSM and Obama won’t care one bit.

[americanophile]

The chosen one's true legacy. Congratulations Obama, you've diminished everything.

[PA-RIVER]

Cursing an Indonesian citizen may make you feel good (FUBO), but its not going to get our AAA rating back.

[mewzilla]

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.

They're blackmailing us into raising taxes.

Which is what the 'Rats have wanted all along.

[palmer]

Considering all that fraudulent debt is now part of US obligations, the whole shebang should be rated a B at best. But none of this charade is serious until rates for US mortgages are 10-15%. We are still kicking the can, going deeper into debt and aiming for a bigger default each day.

[who knows what evil?]

Just want to take a moment to thank the 69 million people who voted for Obama. Thanks, you f****** idiots.

[Varsity Flight]

Correct, and with the big media “life-coaches” pitch for them.

NOTICE that no downgrade occurred when Vampire-Care was passed! See my above post.

[Alberta's Child]

I'm a bit more optimistic than you are. I have enough faith in the pragmatism and nihilism of the U.S. to see that massive Medicare and Social Security cuts -- in the form of mandatory euthanasia -- will likely save us from ourselves.

/sarcasm only partially off/

[John W]

Comment of the day award.

[Road Warrior ‘04]

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

That point just can't be made enough!!!! I even said that to Stuart Varney on Brian Kilmeade's show about a year ago and he was in full agreement!

[PA-RIVER]

Well, thank God we got that trillion dollar stimulus package and Health care law done. It cost us a AAA rating, but with the economic boom it gave us, it was well worth it...

[Norm Lenhart]

I remember when he was elected, sitting in a newsroom with one other conservative while all the Lefty reporters whooped it up. That man and I took all kinds of abuse when we said “Laugh now because your hero is going to total this country.”

I hate being right sometimes... wonder what they think now?

[truthkeeper]

So has the world ended yet?

[PastorBooks]

And don’t forget the new flashmob trend. People are being assaulted by dozens or even hundreds of youth with no warning.

We live in interesting times.

[concerned about politics]

They're blackmailing us into raising taxes.

I don't think so. They're trying to sound neutral, but a tax increase will decrease consumer spending. Less spending, more lay offs. Less tax revenue. More safety net expenditures.
They started out saying the U.S. needs to cut spending by 4T, and they meant it. I'm sure Washington got the message, but will still ignore it.
The rest is simply to calm fears so the entitlement crowd doesn't resort to their raw animal instincts ( any more than they already have). Austerity is NOT what they want the citizens to "hear", but Washington has heard it, whether they like it or not.

[tflabo]

Here’s a Soros puppetmaster funny....well, not so funny now...

http://www.youtube.com/watch?v=L7yyah-j7b4

[cblue55]

Great sentiment! Would look great on the bumper of my car!

[PA-RIVER]

I remember when they celebrated his Inauguration at work, and I said “Cha Cing” a few times after he promised to fix the world. The dirty looks I got could stop a clock.

[RKBA Democrat]

“I bet the Rinos are not so full of their nasty selves today.”

Oh yes they are. They aren’t worrying about this. Depressions are “for the little people.”