Posted on 08/06/2011 7:57:29 AM PDT by KeyLargo
U.S. AAA credit rating DOWNGRADED for first time in history after Obama's debt deal
Unprecedented move will send shockwaves globally S&P cuts long-term credit rating from AAA to AA+ Borrowing costs for consumers and government to rise Comes after Obama signed bill to reduce fiscal deficit
By Daily Mail Reporter
Last updated at 1:08 PM on 6th August 2011
The U.S. has lost its top-notch AAA credit rating from Standard & Poor's in an unprecedented reversal of fortune for the world's largest economy.
S&P cut the long-term U.S. credit rating by one notch to AA+ on concerns about the government's budget deficits and rising debt burden.
The huge move is likely to raise borrowing costs eventually for the U.S. government, companies and consumers. Investor concern: S&P cut the long-term U.S. credit rating by one notch to AA+ on concerns about the government's budget deficits and debt burden
Investor concern: S&P cut the long-term U.S. credit rating by one notch to AA+ on concerns about the government's budget deficits and debt burden
‘The downgrade reflects our opinion that the fiscal consolidation plan (falls) short of what, in our view, would be necessary to stabilise the government's medium-term debt dynamics,’ an S&P spokesman said. What the downgrade means
(Excerpt) Read more at dailymail.co.uk ...
Oh wait..... (Emilie Lattla) Never Mind.
Obama's probably gonna claim someone made him buy this House without letting him read the contract.
"Uh, uhm...I was forced to buy a House that I coudln't afford. I didn't have experience at buying a House, and those bankers and real estate brokers took advantage of me. They told me 'Sign here and everything will be OK'. In reality, they were just a bunch of racists..."
Happy Birthday, Mr. President.
About 60 percent (and climbing) of Americans receive some form of government subsidy so, yes, it is still very possible that he could get re-elected in 2012.
Eventually this economic model is going to collapse in upon itself since it is unsustainable at best and lunacy at its worst.
Don't bet on it. This turd has bought a huge following. He has at least 50% of the voters and is still paying them off. He has most of the media that reaches the vast majority of America in his camp. Fox is half conservative and Radio that has limited reach. The Tea Party has very limited access to Americans and the GOP are pure failures. We have a long road to hoe and the RATS will push like hell for the next few months until election. Wishful thinking will not save us.
Happy birthday, Chief-of-commies. At least the Communist Party of America is happy with you.
He won’t win against a halfway decent opponent. I don’t know the proportion of cases where people are just living off unemployment, and not really looking for a job. But I am looking forward to possibly living off unemployment as a
purely miserable time, even as a single person without any debt obligations, and I can’t imagine anyone choosing that voluntarily.
Knowing how many are on the govt teat, its a good bet he will be in there a second term. All he has to do is “blame whitey” and the masses will gobble it up like candy.
Indeed, tiz time to flush Congress, the bowl is full.
EXCELLENT!
DNC Chairman Debbie Wasserman Schultz:‘We own the economy’ - June 15, 2011
We're going to hang you, your commie boss and all the dims with this Ms. Wasserman Schultz!
FUBO GTFO 2012 !
As I grow older I find it pretty amazing just how many people knowingly or unknowingly allow themselves to be conned over and over and over by the those running the shop in the District of Criminals.
Never forget that this was not just Obama’s bill. This was Bohners bill as well. Forgetting that would make us hypocrites.
I’m thinking the claim that he got 98% of what they wanted is not going to be repeated. Nor will claims of “winning” by the TEA party.
Stock Market plunges and U.S. credit rating downgraded. Nice to see that debt limit deal is working out so well. Can we move the presidential election up a year?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.