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U.S. loses AAA credit rating from S&P
Yahoo.com via Reuters ^ | 8/5/11 | Walter Brandimarte

Posted on 08/05/2011 5:51:21 PM PDT by 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

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Government
KEYWORDS: 0bamaonthedownlow; 0bamathewhoreondrugs; 112th; aa; aaplus; affirmactionplus; barack0onthedownlow; barackonthedownlow; barackoonthedownlow; barrymaddog; barryonthedownlow; congress; creditrating; cutcapbalance; debt; debtceiling; debtlimit; democrats; downgrade; economy; electioni2012; failure; ftp; geithner; hopeychangey; husseinonthedownlow; iatz; ibtz; nobama2012; obama; obama2ff; obamanomics; obamaonthedownlow; rating; ratingservices; socialism; soros; spookydude; standardpoors; taxandspend; treasury; triplea; turbotaxtimmy; usa2aa; yourtaxdollarsatwork; zot; zotmania
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To: GQuagmire; P-Marlowe

I must confess that Greta Van Susteran has a point here. She continually says, “S&P is a big part of this problem because they gave AAA rating to Fannie & Freddie while they were bundling worthless mortgages from buyers who couldn’t afford them. They helped cause the mortgage crisis. And now they’re gonna pass judgment on those fooled and injured by their phony AAA ratings? Why should we listen to them?”

This place is an asylum and the inmates are in charge.


141 posted on 08/05/2011 6:49:04 PM PDT by xzins (Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their VICTORY!)
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To: Raycpa
I personally wouldn't mind going back to previous tax rates IF and only IF all the money was for paying down existing debt, there was a balanced budget amendment, the “baseline” annual government increase in spending was cut to zero, and there was NO WAY the rats could spend the extra tax money.

Otherwise, I refuse to endorse giving the spendalcoholics more alcohol.

142 posted on 08/05/2011 6:49:04 PM PDT by Aria ( "If we ever forget that we're one nation under God, then we will be a nation gone under.")
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To: rosepetal2010

You’re correct clearly. How any political deck chair rearranging would help is doubtful.


143 posted on 08/05/2011 6:49:13 PM PDT by JimSEA (The future ain't what it used to be.)
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To: Raycpa
We could lower the long-term rating to ‘AA’ within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.

I see ABSOLUTELY NOTHING about the lack of tax increases as the BO Admin was trying to say!

144 posted on 08/05/2011 6:50:22 PM PDT by KansasGirl
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To: Jim Robinson
Yeah, the racist tea party terrorists are holding the USA hostage!

Meanwhile, Schumer, Rockefeller, and company raise hell because the GOP tried to trim the pork from subsidized ($3800 per ticket) regional airports, some of them with only one passenger per flight.

What's wrong with this picture!!!!

145 posted on 08/05/2011 6:50:34 PM PDT by ding_dong_daddy_from_dumas (Budget sins can be fixed. Amnesty is irreversible.)
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To: Brandonmark

146 posted on 08/05/2011 6:51:02 PM PDT by Signalman
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To: Steel Wolf

To be very honest, as of today or rather yesterday, Obama is TOAST in 2012. He is for all purposes, FINISHED, a ONE TERMER.


147 posted on 08/05/2011 6:51:25 PM PDT by Biggirl ("Jesus talked to us as individuals"-Jim Vicevich/Thanks JimV!)
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To: GeronL

Tax revenue WENT UP after the Bush tax cuts took effect. Deficits were down until we handed the .gov over to the Rats.


148 posted on 08/05/2011 6:53:10 PM PDT by KansasGirl
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To: FlyVet

Some how, some way, they’ll blame it on the Republicans.


149 posted on 08/05/2011 6:54:50 PM PDT by Fishtalk (http://patfish.blogspot.com/201102/freerepublic-ping-list-compilation.html-Freep Ping Blog post)
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To: GQuagmire

“S&P also cited dysfunctional policymaking in Washington as a factor in the downgrade. “The effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges.”

http://money.cnn.com/2011/08/05/news/economy/downgrade_rumors/index.htm?hpt=hp_t1

Republicans better keep this quote so they can put it in anti-Obama ads.


150 posted on 08/05/2011 6:55:50 PM PDT by Clairity ("The United States needs to be not so much loved as it needs to be respected." -- VP Dick Cheney)
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To: Signalman

151 posted on 08/05/2011 6:56:42 PM PDT by Brandonmark (2012: Our Hope IS Change!)
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Comment #152 Removed by Moderator

To: randita

“Did I leave anything out?”
^^^^^^^^^^

8. “The Christians!”

9. “Global warming! Global warming!”

10. “Global population is too many. We must have more abortions!”

And on, and on, and on...


153 posted on 08/05/2011 6:58:13 PM PDT by PastorBooks
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To: Gipper08

Funny you are upset with Republicans, but NOT with Obama and the Dems.


154 posted on 08/05/2011 6:58:21 PM PDT by Clairity ("The United States needs to be not so much loved as it needs to be respected." -- VP Dick Cheney)
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To: GQuagmire

These are probably the only two “A’s” that this POS Obama every got.


155 posted on 08/05/2011 6:59:17 PM PDT by PMAS
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To: GQuagmire

Funny how the same rating agency that listed all those fraudulent U.S. mortgage-backed securities as AAA-rated doesn’t thing the U.S. government deserves a AAA rating anymore.


156 posted on 08/05/2011 7:00:29 PM PDT by Alberta's Child ("If you touch my junk, I'm gonna have you arrested.")
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To: KansasGirl

“I want them on every talking head show screaming it this weekend!”
~~~~~

I think they were planning on having a good cry...

and then later to attend the evening cocktail with their Dem buddies.

The life of an elite is SO demanding!


157 posted on 08/05/2011 7:01:45 PM PDT by PastorBooks
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To: GQuagmire
This is BS. We can print enough money to cover anything.
158 posted on 08/05/2011 7:02:06 PM PDT by Carry_Okie (GunWalker: "We need a civilian national security force that's just as powerful, just as well funded")
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To: GQuagmire

Well, well, well! Another Friday evening (bad) news dump!


159 posted on 08/05/2011 7:02:21 PM PDT by Road Warrior ‘04 (I miss President Bush greatly! Palin in 2012! 2012 - The End Of An Error! (Oathkeeper))
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To: carolinacrazy
Notice Bambi convinced S&P to announce it at 8 ‘clock on a Friday. Won't help the little punk come the opening bell on Monday.
160 posted on 08/05/2011 7:02:43 PM PDT by DAC21
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