Posted on 08/06/2011 2:11:26 PM PDT by Clairity
One day after lowering the nation’s platinum triple-A credit rating, Standard & Poor’s analysts warned Saturday that the U.S. government could face a second downgrade if the economy continues to struggle and the government fails to make the cuts outlined in the debt ceiling agreement.
The ratings agency on Friday downgraded the nation to AA+ for the first time in history, saying partisanship in Washington is preventing dramatic deficit reduction.
(Excerpt) Read more at politico.com ...
“The decision by credit agency Standard and Poor’s to downgrade America’s AAA credit rating for the first time in 70 years is a massive blow to the credibility of the Obama administration, and a damning indictment of its handling of the economy.”
Wishful thinking. Wait and see,,,he will be re-elected by a landslide.
{sigh} Why is Bush even allowed to walk free.....
The downgrade is a symptom of an iatrogenic illness from Dr. O’Bummer’s treatment.
‘cause he & his daddy & his daddy’s daddy knew how to pucker up & kiss the right a$$’$.
We need real Conservatives, that believe the BS they have been spouting for decades. CUT spending by adhering to the 10th amendment limitations of the Constitution. It is very simple, either you believe in the Law or you do not.
The snopes debunking of the video is transparently BS. The people that live in these places pay state sales tax on non food items.....roflma.
I live in Washington State, and yes, the Snopes “debunking” is BS.
The S+P better watch out - or it might find itself getting nationalized in the interest of “fairness and balance”.
Nah, there’s money in the XXX market, unlike in the US market.
People with 401Ks ought to be scared. Federal takeover of our retirement accounts is still in their sights.
Screw 'em. If they start getting close to doing that I'll cash it out in a heartbeat.
LOL
Not bloody likely.
But thanks.
We could do this. Some of us WILL do it.
You are correct. I was making the point that although the U.S. population has been lulled/bribed/coerced into (slowly) accepting a socialist government, culminating in the election of Barack Hussein Obama and the Democrat-majority 111th congress, liberalism/socialism/communism/fascism are the antithesis of our original government and, while perhaps 30% of the U.S. population might be willing to live under a 'benign' dictatorship (the 20% hard-leftists, 5% illegal aliens, 5% on government welfare) the majority of Americans simply will not tolerate living in a dictatorship, no matter the reason/situation. 'We the people' are beginning to rise up against the tyranny that is liberalism/socialism/communism/fascism. That rise has taken the form of what is dubbed called 'the TEA Party' and includes people from all walks of life, fed up with Washington politics and feckless politicians and making their displeasure known to the politicians and the media. They are affecting change, albeit not quickly enough. The proof is that both the Democrats and establishment Republicans fear and despise the TEA party, which is not a political party at all but a 'movement'.
They are grudgingly given credit (by the MSM) for electing many Republican 'freshman' Representatives in the 2010 election and turning the 'debt ceiling' debate from a negotiation about new taxes to one where new taxes were 'off the table' and spending cuts were the focus. Granted, some caved and voted for the badly flawed debt ceiling 'deal' that was enacted. These Representatives will probably not be supported by TEA party members in 2013, but even so, the TEA party influence on Washington politics and politicians cannot be denied. The TEA (Taxed Enough Already) 'party' is grass roots democracy in action. Proof that, although some may not think it is effective, remains a positive force in national politics and demonstrated that 'We, the people' are not all asleep, afraid or apathetic.
Long way to go? Of course. That is why I support Sarah Palin for president in 2012. Some will carp about this or that related to Palin that they believe 'disqualifies' her but I believe she is a true patriot and can defeat Barack Hussein Obama. She reveres the constitution but knows, as we do, that people must take action to make the Constitution work for the people. If Sarah Palin is willing to take the enormous amount of vile, vicious attacks on her that will follow her declaration of candidacy, I am willing to exercise my constitutional right on November 6, 2012 and vote for her. Let me not be misunderstood: I don't believe Sarah Palin or anyone else can 'save' America (from tyranny) but I do believe that the American people can save themselves and the election of a true constitution-respecting patriot as president is a good beginning. Some may scoff but I submit that the majority of Americans will never submit to tyranny.
“The S+P better watch out - or it might find itself getting nationalized in the interest of “fairness and balanceâ€.
You think you are kidding
http://www.nypost.com/p/news/business/obama_be_careful_what_you_ask_for_cf8E6nAR4MaP3tLZpmR4CK
“Right before the 2008 election, President Obama said he’d put the credit rating agencies like S&P under federal oversight if he became President. Why?
Because S&P, Fitch and Moody’s had not done their job when it came to policing the mortgages that Wall Street had bundled into securities and sold to the public.
So it must have been rather humorous when the President and his henchmen spent most of Friday begging S&P not to take from the US the highest rating available. “
Me too, I think I know where this place is, close to the casino on one of the worst streets in town. I lived within 3 miles of there but moved out in ‘05.
I wasn’t being flippant.
Socialists like to “nationalize” and seize things that make them mad.
S+P was raided by Italy a few days ago when S+P said Italy was a bad investment.
I’m sure the idea has also been kicked around in this country (and still is being debated.)
The problem with the US downgrade is that it’s unlike downgrading mortgages. It’s really full of crap. The US has tremendous capacity to lower expenditures or to raise capital(taxes). We are no where close to being lowered beyond AAA. It’s all a damn joke.
yes, pro-God, pro-free markets, and pro-U.S. Constitution.
S & P is downgrading the USA for being the USA.
this had little to do with ecconomics judging from the report. This had everything to dow with not giving obama a black check to keep spending taxpayer money on the wallstreet insiders.
It is time to downgrade the S & P.
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