Posted on 08/05/2011 8:37:42 PM PDT by STARWISE
The US Treasury has hit back against a Standard and Poor's downgrade of its AAA credit rating, saying there was a $2 trillion dollar error in the agency's calculations.
"A judgment flawed by a 2 trillion dollar error speaks for itself," a Treasury spokesman said, just after the US lost its AAA rating for the first time ever and was downgraded to a AA+.
*snip*
Moody's and a third ratings agency, Fitch, say they continue to study the deficit plan to see if the US merits being kept in their ranks of AAA countries.
Earlier, an official close to the discussions with S&P said: "There are deep and fundamental flaws with the S&P analysis."
(Excerpt) Read more at breitbart.com ...
Obama is going to get serious about this downgrade...Holder will be instructed to file a RICO case against S&P.
If it’s because of a $2 trillion error, how can it be the republicans’ fault?
Translation. You overlooked 2 trillion worth of gimmick savings you need to consider to restore our AAA rating. If our supporters and media apologists will buy it, why won’t you?
Shh, they’re sleeping, after the absolutely grueling debt negotiations.
Stansard & Poor...... obviously a racist organization.
S & P better prepare for the SWAT raid that is coming shortly.
Nope. It sure isn't. He "inherited this mess," don'tcha know?
Oh so true but please remember he is not alone. He is the current face of evil but the Commies have many more in their stable. Don't think that by getting rid of Obama all our problems will be solved. We have to root out the entire Communist organization and all who are involved with it.
Boehner's crying about it right now.
Have you checked Obama's pockets lately?
By the way I think you meant Pubbies. At least I hope that's what you meant.
Here is another case of projection: Accusing S&P of $2 T errors, when it happens to author these “errors” as well (ie: 9.2 -> 9.1% unemployment, when its near 20%; optimistic projections downscored by the GAO to a pittance)
Did they multiply by 57 states instead of 50?
Not a problem. Obama will start working on illegal immigrant amnesty next week and solve everything.
I believe in Bigfoot more than I than I believe the uh, accounting done by the White House.
Earlier, an official close to the discussions with S&P said: "There are deep and fundamental flaws with the S&P analysis."
The difference between this "insider" and Bigfoot is that both are elusive, except that there has been more reported sightings of the big hairy monster (No, not Michelle Obama) than the end of our fiscal woes.
So the Treasury actually thinks we deserve a AAA rating?
Our...err...what?
Sorry...couldn't resist.
I wonder if that two trillion is GAAP or non-GAAP. On the other hand, the government only forces all organizations other than itself to use GAAP calculations...
On that subject, what would happen if some accounting firm actually audited the government as though it was a Fortune 500 company??? I’d love to read that report...
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