Standard & Poors took the unprecedented step of downgrading the U.S. governments AAA sovereign credit rating Friday in a move that could send shock waves through global. The following is a press release from Standard & Poors:
1 posted on
08/05/2011 5:58:20 PM PDT by
jimbo123
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To: jimbo123
This will cost all of us, like a tax hike
2 posted on
08/05/2011 6:01:16 PM PDT by
GeronL
(The Right to Life came before the Right to Happiness)
To: jimbo123
yep...nobody saw that one coming...
At least they waited until after Premier Hussein’s birthday...
3 posted on
08/05/2011 6:01:35 PM PDT by
Bean Counter
( The fit is hitting the shan....)
To: jimbo123
4 posted on
08/05/2011 6:02:02 PM PDT by
_a_0_0_
To: jimbo123
To: jimbo123
"The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the governments medium-term debt dynamics."That almost sounds like something one of those TeaParty Terrorists might say.
6 posted on
08/05/2011 6:02:09 PM PDT by
gorush
(History repeats itself because human nature is static)
To: jimbo123
The move came even though the Treasury Department said that it had found a math error in the firms calculations of deficit projections, according to a person familiar with the matter................LOL...Barry and Timmy trying to teach S&P about math errors??
7 posted on
08/05/2011 6:02:25 PM PDT by
milwguy
To: jimbo123
Just had to pass that debt ceiling increase or we’d lose our AAA rating! Good thing we did! /S HEAVY
9 posted on
08/05/2011 6:04:07 PM PDT by
Road Warrior ‘04
(I miss President Bush greatly! Palin in 2012! 2012 - The End Of An Error! (Oathkeeper))
To: jimbo123
Nero fiddles while Rome burns. Odummys failure is now complete.
11 posted on
08/05/2011 6:04:47 PM PDT by
mardi59
(T)
To: jimbo123
An historic precedent for an historic president.
Banana splits for everyone !
To: jimbo123
Before these last few years, I never thought I’d see the day when something like this could happen. I honestly and truly didn’t.
I don’t claim to be an expert on subject, of course. But it seems to me, even if we get the rating back in the future, the unshakeable certainty and “invincibility” of the U.S.’s fiscal reputation is gone forever.
18 posted on
08/05/2011 6:06:30 PM PDT by
DemforBush
(Serpentine, Shel! Serpentine!)
To: jimbo123
Don’t worry, the Rino trolls are on it. They defeated the hobbits and are on the move to fix everything with Dear Reader. What we need is more welfare and food stamps. /s/
To: jimbo123
I can't resist.
21 posted on
08/05/2011 6:07:25 PM PDT by
McGruff
(I am Sarah Palin)
To: jimbo123
We needed that two by four on side of the head. But, it will be lost on progressives.
23 posted on
08/05/2011 6:09:40 PM PDT by
Calusa
(The pump don't work cause the vandals took the handles. Quoth Bob Dylan.)
To: jimbo123
Congratulations to President 0bama, Weeper Boehner, Harry Ried, Mitch McConnell and traitors like Allen West and Kristi Noem. Your bill was a huge success! Keep up the good work. America is on the rebound.
24 posted on
08/05/2011 6:10:02 PM PDT by
GR_Jr.
To: jimbo123; All
Piss off. This is NOT Boehner's fault and it isn't McConnell's fault.
Let me remind you and all the rest of the Republican party bashers here: THE LAST TIME THE REPUBLICANS CONTROLLED THE EXECUTIVE AND LEGISLATIVE BRANCH, the annual deficit was around $170B. Under Hussein and the Demon-rats, it is $1.6T.
The problems with the Republicans are known and can be dealt with...BUT THE DISEASE AFFLICTING THE COUNTRY IS OBAMANOMICS AND LIBERALISM...IT has been the problem for two years, and has resulted in this debacle.
(No offense, Jimbo, but this is NOT the fault of Republicans...they were working toward a solution, however imperfect. The entire reason we're in this mess is NOT from Boehner and McConnell.)
To: jimbo123
Standard & Poor's had warned that the nation's credit rating would be subject to a downgrade without a credible deficit-reduction package worth $4 trillion over 10 years. The package agreed to by congressional negotiators falls well short of that mark.
MSNBC
27 posted on
08/05/2011 6:11:24 PM PDT by
NoLibZone
(Life as Nancy Pelosi knows & wants it, must end, Life As Nancy Knows it is to raise Debt 10% annualy)
To: jimbo123
The cost of lending just went up. Greatly.
Well, at least they were nice enough to wait until the end of trading so that the last half-hour pump by the PPT would not be in vain.
To: jimbo123
34 posted on
08/05/2011 6:19:09 PM PDT by
NoLibZone
(Life as Nancy Pelosi knows & wants it, must end, Life As Nancy Knows it is to raise Debt 10% annualy)
To: jimbo123
36 posted on
08/05/2011 6:20:25 PM PDT by
South40
(Liberalism is a disease)
To: jimbo123
Wait a dang minute! I thought the Dems were all howling that we NEEDED to raise the debt ceiling, so that we WOULDN'T get downgraded! Why were we downgraded anyway? Could it be possible that the Dems lied? No, really? /s
It's the SPENDING, not the Debt ceiling that's causing the downgrade. The Tea Party has been advocating reducing spending, thus reducing the overall debt load of the country. The GOP needs to get all over this issue like white on rice.
54 posted on
08/05/2011 8:12:36 PM PDT by
SuziQ
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