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

[Dengar01]

Republicans will be blamed. Good thing they caved and raised the debt limit.

I tried explaining this to my dad and he won't listen. He doesn't realize that the MSM controls the debate.

Moronic friends of mine don't realize that the Executive Branch + Senate = Ownership of Economy.

But keep on blaming Bush I guess is their only strategy.

[Dubya-M-DeesWent2SyriaStupid!]

This is a good point as bizarre as it is. If they would not have voted on Reid’s mess this downgrade would have been their complete fault. I was mad at Ingraham when she was saying this but she may have had a point. I am still mad though.

[Happy Rain]

It is said to be an economic axiom that no matter what,ones stock portfolio,if investments span at least three decades or more,will yield positive returns.
But that was America then—but since the socialist silent coup that began on Capital Hill in 2007 with the installation of the Pelosi politburo then culminating with the mind blowing electoral mistake of 2008 resulting in the first naked Marxist in charge of the White House...

Well,it's now time for guns,groceries,and gold as we all gather,regroup and organize for the retaking of America.

[ponygirl]

If you got slaughtered, you haven’t been paying attention. This has been expected since March, when PIMCO made their announcement. I did what I could with my 401K, but I’m pretty limited with where I can put my money, so I’m going to get hit no matter what. I moved things around in March to try to mitigate the damage and have been watching the market go up and sideways, wondering when “it” was going to happen. I was actually considering moving things around again a few weeks ago. Thank God I didn’t.

[Polybius]

Ummmm. since when do people or countries have to have a credit bureau check on the US govt????? Rating the US Govt is a power that the credit ratings agencies have arrogated unto themselves, or obvious reasons. They really have absolutely ZERO to do with govt debt...

Ummmm .... Ever since the U.S. Government started having to depend on any other countries and individual investors to buy the U.S. Government debt as a credible investment.

The rating agencies have the same power that Consumer Report has on G.M. when any customer is considering buying a car.

The U.S. Government can spend borrowed money because investors, China, for example, are willing to buy U.S. Government debt. If a bad rating causes those investors to think twice, that money can very well be invested elsewhere.

The U.S. Government is one failed Treasury auction away from disaster.

[tcrlaf]

“The danger to America is not Barack Obama but a citizenry capable of entrusting a man like him with the Presidency.”

-Nobel Peace Prize Winner, freer of millions from Soviet Socialist Slavery, ex-President of Czechoslovakia, ex-President of the Czech Republic, VACLEV HAVEL

[grey_whiskers]

[KansasGirl]

Revenues fell in Bush’s first two years because of a combination of the tech bust and the start of the tax cuts. But then things took off.

2003: $1.782 trillion

2004: $1.88 trillion

2005: $2.153 trillion

2006: $2.406 trillion

2007: $2.567 trillion

I don’t have the links, but there was an in depth article on this subject on FR the other day. I think it may have been written by Jonah Goldberg but can’t remember for sure.

[Gipper08]

hack

[littleharbour]

Thanks for the correction. I did indeed confuse the two men. It seems that the Czech Republic has had a number of leaders who crave freedom, no doubt as a result of having to fight so hard to obtain it.