S&P to Obama... Credit rating will be downgraded.

[K_W]

S&P has notified Obama... we are downgrading you to AA+

U.S. loses AAA credit rating from S&P - fox59.com

 

[NYFelon]

should come as no surprise. They straight up told congress, cut $4T or be downgraded.

 

[longbow]

heading to the bunker for the expected crash and zombies........

S&P Downgrades U.S. Credit Rating From AAA - FoxNews.com

 

[longbow]

Who will O blame?

 

[Expat]

Who will O blame?

Damn that Bush.

 

[pudly]

Who will O blame?

From the AP article:

A source familiar with the discussions said that the Obama administration feels the S&P's analysis contained "deep and fundamental flaws."

Looks like they are starting with S&P, but I'm sure they'll come around to Bush, Republicans, the Tea Party and anyone else in short order.

The article goes on to say that S&P still has a negative outlook, meaning that there could be another downgrade eventually.

 

[firehawk1]

Who will O blame?

You and I. We are just to stupid to understand His vastly superior intellect.

If the public has a long enough memory, this could be a present to whoever is chosen to run against him. He might even end up having a challenger from his own party. IMO no one, no matter what their political leanings are can be happy about this. The longer this administration goes on it is becoming harder to play the "blame Bush" card. George Bush is NOT to blame for the policies of this bunch of children we have in power now.

THIS is why I feel and have said so several times, getting rid of the Obama administration HAS to be first on the agenda.

 

[Expat]

THey just said on Fox that the ruling junta told S&P that they had made a $2T math error in their report... Apparently they didn't believe the Obamanistas.

 

[Bunnykid68]

I thought they said if they got this deal passed everything would be ok? Wait...the money guys know better than to believe that

 

[Expat]

I thought they said if they got this deal passed everything would be ok? Wait...the money guys know better than to believe that

Keep in mind that our Secretary of the Treasury couldn't even do his taxes properly using TurboTax.

 

[VaqueroEM]

I don't see how anyone can even consider voting for him again. But people STILL are saying how great Obama is and how all this mess is the doing on Bush. It really ticks me off to hear it all.

 

[UncleMike]

Damn that Bush.

He'll blame Bush, and every Republican all the way back to Lincoln.
And his deaf, dumb, and blind followers will chime in with him in the Hallelujah Chorus of "It's not my fault."

 

[orange]

Anyone remember S&P giving AAA rating to CDO bundles?
This is S&P yelling look! look at me! look at me look look I'm totally relevant look

(edit) though, if it ISN'T a credibility/relevance grab, I can't think who profits from this move.

 

[Taylorz71]

agreed

I never thought I would see the day. We are loosing ground visibly everyday. They will scare us then take all of our rights away when the cowards run to them for the illusion of safety.

heading to the bunker for the expected crash and zombies........





S&P Downgrades U.S. Credit Rating From AAA - FoxNews.com

 

[indykid]

As I have said many times, and S&P understands, many here understand, but the wonderful news media refuses to publicize, this latest "budget deal" only is a decrease in the increase in spending. Instead of truly cutting the deficit, they are in effect taking out another line of credit to spend more, thereby increasing the overall debt just not as much.

S&P wants a true cut in the debt, not a decrease in the increase.

Power companies like to go to regulatory agencies and ask for, oh say a 30% increase but really only want 10%. The agency then tells them they can only have a 20% increase. They agree and both brag how much they saved the people when in fact the company got twice what they really wanted while bragging a "savings" of 33%.

And that is how our wonderful government is reporting the same scam.

 

[VaqueroEM]

The scary thing is I don't see ANY candidate coming forward who has any chance of beating Obama. That is more scary than the economy.

 

[ruger17hmr]

S&P downgrades US credit rating from AAA

S&P downgrades US credit rating from AAA

First time ever!

S&P was not bluffing. It followed through with the action!

S&P downgrades US credit rating from AAA - Yahoo! Finance

 

[pudly]

Sorry, dupe: https://www.indianagunowners.com/forums/general_political_discussion/162605-s_and_p_to_obama_credit_rating_will_be_downgraded.html

 

[jblomenberg16]

It doesn't take a bunch of fancy financial analysts to figure out we've gotten ourselves into a whole that pretty much is impossible to dig out of.

S&P is calling a spade a spade now, and most of the financial experts have pretty much shared the same opinion as what was quoted in the CNN.com article:

However, one of S&P's explicit criticisms of the compromise was that it didn't address the biggest drivers of the nation's debt -- Social Security and Medicare -- and didn't allow for additional tax revenue.

S&P downgrades U.S. credit rating - Aug. 5, 2011


Loosely translated...the lawmakers in Washington have no clue what is going on with the real world and continue to screw up at every turn.​

 

[longbow]

People have all weekend to see what they will do with the investments they own.........