Posted on 08/07/2011 8:49:03 AM PDT by RobinMasters
Edited on 08/07/2011 2:58:41 PM PDT by Admin Moderator. [history]
WASHINGTON (AP) -- A Standard & Poor's official says there is a 1 in 3 chance that the U.S. credit rating could be downgraded another notch if conditions erode over the next six to 24 months.
The credit rating agency's managing director, John Chambers, tells ABC's "This Week" that if the fiscal position of the U.S. deteriorates further, or if political gridlock tightens even more, a further downgrade is possible.
(Excerpt) Read more at hosted.ap.org ...
He meant yes we can have global communism. The jackass SOB has not uttered a word about the racial riots in WI. If it were whites rioting and beating blacks he would be breaking in the news and then having a ‘my bad’ beer summit only because the polls said too. Our special forces and soldiers were killed and he released a statement his chief of staff probably wrote. But you can bet he will make a dumbassed statement tomorrow either through a podium,news release,or Jay, and he will still blame the weather and the GOP and arab spring. He does not care about this country.
Who are you kidding...
I just had a conversation with someone 5 minutes ago who says that Clinton left Goerge Bush a SURPLUS!.
THERE NEVER WAS A CLINTON SURPLUS, it was a “projected” surplus, after Social Security and Medicaid obligations were taken off-budget.
How do you deal with such gullibility and ignorance? This is how Obama got elected in the first place!
Hey, easy on the 12 year olds! ; )
Finally, somebody points this out. I've even Rush talk about the budget surplus in the Clinton administration. It never took place. THANK YOU, TCRLAF.
Why does everyone forget that Clinton downsized and gutted the entire US military? He decommissioned bases, had programs for lifers for early retirement; so of course his budget looked good.
I give it a 3 in 3 chance
The floodgates are open, we will be at BBB at least before it stops.
http://research.stlouisfed.org/fred2/data/FYGFD.txt
...up every year — even by the FED’s numbers
“I think one thing we’re going learn as a result of the downgrade is the realization that the debt situation will prove to be far worse than even S&P can imagine.”
I agree. Government accounting is deliberately deceptive. Low inflation and interest rates mask much of the debt. Inflation will trigger large increases in government spending for COLAs. There is no accounting for the wave of soft defaults in student loans, Obamacare costs, unemployment compensation costs, and many other programs. The debt does not recognize the incredible barrage of future spending in traditonal entitlement programs and new entitlement programs. In addition, the regulatory barrage has been a major reason for the economic malaise. Capital is moving to other countries with more reasonable business climates especially for hiring of white collar workers. The financial services industry will dramatically shrink in this country as a result of Dodd-Frank.
And then there is Obamacare...a financial disaster of epic proportions in the making. Obamacare is going to be like the proverbial “money pit” if its not struck down by the USSC.
BUt why are Moodys and another rating agency not also joining in? I suspect some play from geitner involved here. The crisis they didn’t want but really want?
I am finally starting to believe those who said he is deliberately trying to destroy this country.
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