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

[Captain Peter Blood]

A mere 70 basis point rise for federal borrowing costs will cause major problems vis a v the interest rate expense in the federal budget.

[right way right]

I could suggest Guillotines again, but that was removed by the MOD!

[Captain Peter Blood]

A number of dangers here to be sure.
I am out of predictions here.
Sunday night overseas and Monday here will tell the tale or start one.

[Mad Dawgg]

"This is a good thing, we can put it all on Obama’s shoulders."

Uh huh...

However the Lame Stream Media will lay the blame at the feet of the Tea Party.

[who knows what evil?]

Michele Bachmann also stated that President Obama has destroyed the credit rating of the United States...a bit over the top; but a GREAT sound-bite!

[topfile]

Another first for Obama!

[AmericanMermaid]

It’s like he’s celebrating not his birthday, but rather how he and his corrupt cronies and puppet masters have taken down a nation that he was never worthy to lead.

[palmer]

Drugs are getting pretty cheap, I can see them doping up seniors instead of treating illness then watching them waste away. The other fact is we will stiff our creditors either through default or inflation or both. It will end up being a walk in the park for the politicians although they will pretend that it is hard work.

[DTogo]

GE lost it's AAA status under Immelt in 2009, not to mention ~2/3 of it's former share value and tens of thousands of American GE jobs.

Since Immelt is an advisor to Obama 2011, why should anyone be suprised.

[right way right]

Another precedent by this failed President.

[sand88]

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

Did you forget the /sarc???

[Thrownatbirth]

Can't wait for Ric Edelman's show on radio tomorrow. He just lost about a trillion for his listeners' retirements.


/s

[Typical_Whitey]

Now thats what I call CHANGE

[vox_freedom]

So … for the first time in history the US is downgraded from AAA because government spending is not reduced and balanced to income.

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[barmag25]

I know everybody thinks this is a big deal. But this is nothing compared to the inflation we are about to see. this is going to suck bad.

[hal ogen]

Thanks, DIMs, LIBs and RINOs. Thanks a lot, you mega-putzes.

[PMAS]

Just another “Historic” first for this president.

[popdonnelly]

As an American, I feel truly humiliated. This is the first time in my life I’ve felt this.

[Tzimisce]

Would you lend money to Lindsey Lohan?

Neither would anyone else.

[jennychase]

Every US company rating will get effected, because there rating can’t be higher than country.

Next will be high interest rate, may be start next week.

This will be worse than Carter.