CATASTROPHE!… S&P DOWNGRADES US CREDIT RATING FOR FIRST TIME EVER!
Posted by Jim Hoft on Friday, August 5, 2011, 9:35 PM
OBAMA CATASTRPHE CONTINUES!
Standard and Poor’s cut the nation’s rating for the first time ever from AAA to AA+.
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.
Obama and Reid’s crowning achievement.
The AP reported:
The United States has lost its coveted top AAA credit rating.
Credit rating agency Standard & Poor’s on Friday downgraded the nation’s rating for the first time since the U.S. won the top ranking in 1917. The move came after Congress haggled over budget cuts and the nation’s borrowing limit — and failed to cut enough government spending to satisfy S&P. The issue has contributed to convulsions in financial markets.
The drop in the rating by one notch to AA-plus was expected. The three main credit agencies, which also include Moody’s Investor Service and Fitch, had warned during the budget fight that if Congress did not cut spending far enough, the country faced a downgrade. S&P said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country’s debt situation. Moody’s said Friday it was keeping its AAA rating on the nation’s debt, but that it might still lower it.
One of the biggest questions after the downgrade was what impact it would have on already nervous investors. Many financial analysts said investors were expecting a downgrade. But some selling was expected when stock trading resumed Monday morning. The Dow Jones industrial average fell 699 points this week, the biggest weekly point drop since October 2008.
Jammie Wearing Fool has the graphic.
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Bill Mitchell commented:
Obama and the democrats in Congress are quickly becoming the Han (It’s not my fault!) Solos of politics. Question is, if NOTHING that happens on their watch is their fault, why give them power at all?
Elect us – we don’t do anything good and we can’t stop bad things from happening!
sliderblaze commented:
so, are we aloud to start blaming him yet or what… I mean, I keep hearing Bush, Tsunami, Tea Party terrorists, Republicans.
Chrissy B commented:
I guess this was the “change” that Barry-boy and Moose-elle promised, and they’re only half-way done. /s
MDd commented:
I’m not surprised it happened. I like most conservatives was expecting it, but not until Nov.
Need a little help. There’s a graph I snagged, but neglected to get the link. Has anyone seen a graph titled “1981 thru 2012 (projected) US gross public debt as a % of GDP”?
Across top there’s bars indicating the president during that time period. The vertical data bars are color coded to indicate which party was in control or if split.
donh commented:
The S&P are just a bunch of racists who made their fortune off the backs of slavery by railroading cotton before the Civil War. Why these are the same people who helped George Bush ruin this economy by fruadulantly rating subprime paper triple AAA which creating this mess Obama inherited in the first place. Now they want to …yada yada yada…. There !!! Now you have the Whitehouse talking points, and don’t have to watch the Sunday network media round table shows.
Jonapope commented:
Let me guess, it is the fault of the tea party terrorist? Obama and Dems need to stop playing with the future of my generation and my 17 month olds generation. Admit that obamanomics has failed!
Flaky commented:
The plan is going as expected….Barry the kenyan fraud said to Soros
Hank commented:
Way to go, hip hop 50th birthday boy.
rbosque commented:
Higher bond interest rates, here we come!!!
Way to go team Obama!
mcc commented:
The downgrade happened on cue and CNN was ready…with a “Republican Strategist.”
Asked by Anderson Cooper if this, then, would be a good time for Congressmen to reach across the aisle. And, as planned, the R.S. said – repeated – very carefully and deliberately that very thing. And that it would make them look very good to the voters… Aww, isn’t that tempting.
I’m sure they’re hoping this will scare R’s into putting spineless wimps on the Super Committee. And they’ll probably be right.
Should have heard Trump on w/ Greta. Everything alot of us know: IT WAS A LOUSY DEAL. They let BO have it past the election — the thing he had to have — because if this mess were to come up again before, he’d lose the election.
Ken Moore commented:
If a second agency drops the rating, institutional selling will be forced onto the market. Contracts and charters often specify AAA investments supported by any two of S&P, Moody and Fitch. Source: Megan McArdle at the Atlantic. http://www.theatlantic.com/business/archive/2011/07/what-happens-if-we-dont-raise-the-debt-ceiling/242728/
ahem commented:
Happy 57th birthday, Assh*le!
Bubba commented:
Bravo, S&P, for having the sack to do the right thing. America has become a joke, and the ratings agencies had zero credibility while trying to advance the fantasy that America was the gold standard of rock solid nations.
Just because they have access to a massive printing press (which, was the stupid argument advanced by ostriches saying that the US was nothing like the PIGS because, unlike them, we could print money whenever we needed it–GOOOOOOOD GRIEF!!!!!), doesn’t give it any special “safety” status.
S&P finally had enough. Hell, the world has had enough of the disgusting games being played by the US to keep the ponzi scheme going. Cuts over ten years??? Back loaded when they know damn well they have zero chance of ever being lived up to by futre congresses????
What an absolute sham.
Nope, the jig is up. The Fed is out of bullets, and the US (and the world, unfortunately) is going to reap what America has sowed by living light years beyond it’s means for generations.
Almost 100 trillion in unfunded liabilities??? Tens of trillions more at the state level?
Honestly, S&P was generous only kicking the US down to AA+. A bankrupt, failed, disgraceful nation, saved only because they can unlawfully print money whenever the hell they feel like it. Anyone throwing around the line, “America is the richest nation on earth” deserves to be beaten into a comma for being so stupid and clueless.
Monday oughta be fun. Thanks America. Thanks, Barry.
Speaking Clearly commented:
Hopefully, the United States is able to regain its AAA Credit Rating.
Probably after Barack Obama is voted out in 2012.
What’s not clear, is if politics play any part, in these Credit Agency’s decisions to do this?
Many experts say no…but I’m skeptacle….
So by waiting until after the Debt Ceiling Crisis to do this….the Credit Agency S and P can claim they were not influencing the negotiations, and outcome of the Debt Negotiations.
If S and P would have downgraded our Credit during the Debt Crisis…it would have hurt and helped, both the Dems and the GOP, in different ways.
It’s a catch 22….so if the Credit Rating downgrade happened during the Debt Ceiling negotiations….it would have put more pressure on the GOP to raise the Ceiling higher….but would have put more pressure on the Dems to cut more spending….
….hence…probably why S and P waited until now to do this…and did it in spite of the fact that the Debt Ceiling was raised, and supposedly spending cuts exceed that.
In the long game, I think this hurts the American people the most…and then Obama’s reelection chances.
This does not hurt the Tea Party….it makes the Tea Party’s fiscal Conservatism more attractive.
Taqiyyotomist commented:
Gee, what happened in October of ’08?
Oh, yeah, that’s when the market figured out that Obama was a shoe-in and that McCain was intentionally throwing the election for his fellow Socialist*.
—
*(..and to stave off the inevitable 50-city riots, of course…)
Taqiyyotomist commented:
correction: race riots, I meant.
Taqiyyotomist commented:
Because it would have happened, it was planned in the event of a loss, and McCain knew it.
And so he threw it.
In 2012, his minions will have had MUCH practice in the preceding four years.
violentflashmobs.com
Taqiyyotomist commented:
The frequency and participation rate in these racist flashmobs seems to be rising by the month.
cynic commented:
It is unfortunate that emotion trumps logic and a lot of innocent people are going to be seriously damaged during a readjustment period. Anyone doing simple math realized we spend far more than we can ever realistically take in through taxation. Reaching 100% debt to GDP was simply the tipping point. It’s time for both parties to abandon politics and use logic, sound economic policy, and real accounting/not gimics to put us back on the road to fiscal sanity. Yes and I’ll give up all of my Medicare and half of my social security to realize this goal.
The Baggers are the enemy commented:
Joe Biden had it right: You are terrorists, and the secret is out. You goons may own your primaries, but now you’ll get to face truly deep anger in the next general. I just wonder how long it’s going to take the RINOs to pitch you out of the GOP. I noticed Romney got a big fat anonymous donation today! Are you mob ready to be your own party yet?
Check out this description of tea-baggers from Maureen Dowd: “They were like cannibals, eating their own party and leaders alive. They were like vampires, draining the country’s reputation, credit rating and compassion. They were like zombies, relentlessly and mindlessly coming back again and again to assault their unnerved victims, Boehner and President Obama. They were like the metallic beasts in “Alien” flashing mouths of teeth inside other mouths of teeth, bursting out of Boehner’s stomach every time he came to a bouquet of microphones.”
Or this from Harold Meyerson: “Republicans, to be sure, have long waged a war on government, but only now has it become an apocalyptic and total war. At its root, I suspect, is the fear and loathing that rank-and-file right-wingers feel toward what their government, and their nation, is inexorably becoming: multiracial, multicultural, cosmopolitan and now headed by a president who personifies those qualities. That America is also downwardly mobile is a challenge for us all, but for the right, the anxiety our economy understandably evokes is augmented by the politics of racial resentment and the fury that the country is no longer only theirs. That’s not a country whose government they want to pay for — and if the apocalypse befalls us, they seem to have concluded, so much the better.”
So, yes Virginia, you are terrorists, monsters and mobsters. You are anti-American to the core. You are full of fear and fury. I for one won’t live under your philosophy, even if you elect the next president or the next pope.
Voice of sanity over, now back to the bagger parade…
gus commented:
The Kenyan Fukktard is talking about spending MORE AND MORE AND MORE AND MORE AND MORE.
Molon Labe commented:
I balme both Obama and his allies the RINOs who aided and abeted him. Hyperinfation soon. Glad I bought gold at 125,
Patriotic commented:
What Kenyan are you talking about?
toongoon commented:
#20
Move to France bitch.
gus commented:
Hahahahahahahahaahha!!! Hey LIBTARD. This is what happens when LIBTARDS pretend they know what they are doing.
You own it cokk sucker.
Missy8s commented:
Chairman O is the “error”, a SEVEN TRILLION DOLLAR ERROR!!!
Baggers are the enemy commented:
#24
C#nt, I’ll stay in the country and fight you and people like you. You can’t wish me away, I’m in your sh#t.
bigkahuna commented:
# 20 Insane
MDd commented:
Reading the AP report doesn’t give the full flavor of what S&P actually said. They did a lot of blaming on the political squabbling. And again the mentioned that they were taking a neutral position on reveue vs spending or any mix. Reading the AP report I felt like we could squeeze the Dims for lots more spending. Reading S&P tho, the Dims have plenty cover.
Missy8s commented:
We had a great country, O Blah Blah, Nanny Psychosi and Harry The Hat KILLED IT in less than 3 years!
Damn them all.
bigkahuna commented:
Baggers….Well I just took a democrat and found you were in my toilet bowl…so I guess you are right…
Missy8s commented:
# 24 BRING IT ON PUSSY!
gus commented:
LIBTARD, you’re right, I’ve got chunks of pussies like you in my stool.
Missy8s commented:
# 24 Pantywaist pansie parasite.
bigkahuna commented:
If the republicans just show the stupid a$$ statements of the many idiot liberalsover the past 4-6 years and then play it against the warnings by conservatives warning about spending and debt and taxes and jobs and regulations…It should be a total wipeout in 2012
spike commented:
Bagger,Can we hold you to your statement,that you won’t livve here if you lose.Start packing! Don’t let the door hit ya where the good Lord spilt ya. Crawl back under your rock.
gus commented:
In a tough moment like this, it is HILARIOUS to see an unhinged piece of sh!t like this dude. He’s making comedy. Obama has spent 3 TRILLION DOLLARS in deficit spending, in less than 2 and a half years. And this complete idiot, still doesn’t get it. It’s sad , but funny.
gus commented:
A guy who VOTED PRESENT. And you LIBTARD FUKK FOR BRAINS idiots, thought he could run the biggest ECONOMY in the WORLD.
Highlander commented:
#20 – Wow, two sexual slurs, and two quotes from radical leftists … including racial slurs. How convincing.
You Tea Party bashers should be ashamed of yourselves. We are the only voice of reason in this fiscally insane country, but all you can do is hurl insults, slurs and accusations of terrorism at us. I wonder … how is it that you won’t “live under” our philosophy if we win elections, and wind up shaping the direction of the country? Will you do us a favor and LEAVE, or will you become that which you accuse us of … a violent terrorist? Just curious. Meanwhile, go soak your head …
toongoon commented:
Bring it. liberals are pussies and you are less than that.
Atlas Shrugged commented:
Parasites are the problem and #20 is one of them …
gus commented:
What EXACTLY are the “TEABAGGERS” supposed to be guilty of???
Who SPENT THE MONEY?
Baggers are the enemy commented:
Spike,
I never said I would leave. I said I would never live under what you and your mob dish out.
You people are the aliens and the invaders. You are the terrorists destroying my country. I won’t back down to a threat. I’ll defend me and mine with my right to vote and my 2nd amendment solution. I stand with people who will take our country back from Tea Party thugs.
toongoon commented:
Unfortunately, troll you can hate us for wanting to our nation to be fiscally balanced but you are going to be suffering from same effects that zero, reid, pelosi, and others have inflicted on us.
gus commented:
Obama has spent TRILLLLLLLLLLLLLLIONS 3 plus TRILLLLLLLLLLLLLLION in less than 2 and a half years. MORE THAN WE HAVE.
Naturally REEEEEEEEEEEETADS blame the ONLY FISCALLY RESPONSIBLE PEOPLE IN THE NATION.
Rock commented:
@ #24,
Of course your in his sh!t, where else would a Lib sh!t eater be, and like any other parasite you too will be flushed.
Atlas Shrugged commented:
#43 Baggers – And there it is … the threat of violence. So, we know who we are dealing with now. We’re ready for you jerk …
gus commented:
BAGGERS?? Put down the bong, and tell us what is bothering you son??!
Which SPENDING did the “TEA BAGGERS” approve, that got us this far into debt?????
Easy boy, just ease away from the BONG, and ask your Mommy.
Which spending by TEA BAGGERS , got us to where we are now???
hahahahahahahahahahahahahahahaahhahaha!!!!
Then tell us about UNEMPLOYEMENT and FOOD STAMPS!!!!
Atlas Shrugged commented:
No, tongoon, the jerk thinks he will be exempted from it …
toongoon commented:
$hit=eating trolls
Baggers are the enemy commented:
#47 You better be ready, and you better be ready to bring more than an axe handle. We’ve seen teabaggers bring guns to political rallys. We know now how you want to play the game.
Ho ho ho.
toongoon commented:
This troll sounds like SEIU bully wannabe. Came here to put his digital fist in our faces. Wimp.
donh commented:
Bagger troll shows that the Howard Dean progressives are just a group of anal retentive homosexuals who failed to receive proper toilet training . Their red commie parents in their druggie 60s pot communes kept them in diapers until they were 7, and they remain fixated on bungholes into their middle age. Glad to see these leftist scat finally admit that their business is to make a living brokering the downward mobility of the innocent american citizen .
ogee commented:
WATCH HIM BLAME THE GOP NOW.
Oblame is a coward and will not take responibility for his inability to lead nor the 22% unemployment etc.
S&P issues unprecedented downgrade of US credit rating, saying debt package falls short
What a bozo.
Rock commented:
Correction to #46 Was meant for #27
toongoon commented:
When it is time for freedom lovers to fight, just stand back we’ll protect you….oh, and don’t say anything.
ogee commented:
Tea Party thugs? Huh? Thugs? go get drunk moron.
Rock commented:
#51 August 5, 2011 at 10:42 pm
Baggers are the enemy commented:
#47 We’ve seen teabaggers bring guns to political rallys
…………………………………………………………………………………………..
That’s your best shot really, you poor pathetic misguided lib. If you fail to understand whats at play here you have lost already.
ogee commented:
Hateful troll is going to die of a disease soon with all that hate in their heart. Watch!
Hey troll… who else have you hated on today? neighbor? driver in front of you? Person nest to you in the grocery store?
YOU HAVE A HATEFUL HEART. YOU NEED SOME SERIOUS COUNSELING. Maybe Oblame can pay for it ya think?
Atlas Shrugged commented:
We won’t need guns bagger … a squirt gun full of holy water should do the trick.
toongoon commented:
I think it ran back to DK with it’s tail between it’s legs.
ogee commented:
Troll voted for Oblame for one reason and one reason only……
All together now……
BECAUSE HE’S BLACK!
MORON.
gus commented:
You know fellow Conservatives!!!! A little boy like our current TROLL, may actually believe that UNION THUGGERY scares US. It doesn’t. Union thuggery, like we’ve seen in Wisconsin and other places, doesn’t scare us. And it is getting RARER by the day.
If these little boys BELIEVE that the UNION THUGS are going to THROW DOWN with CONSERVATIVES….for real….I mean really THROW DOWN. I may just piss my pants laughing.
If and when these pathetic COMMIE MUTHERF**KERS, say GAME ON. They will bleed.
toongoon commented:
But they will run away valiantly.
Baggers are the enemy commented:
#54 ogee commented: WATCH HIM BLAME THE GOP NOW.
Actually ogee, you’d better keep your eye on the RINO wing of the GOP. They are looking at your tea-terrorist a$$es, and coming to the conclusion that you are bad for bidness. The S&P isn’t worried about the deficit as much as they’re worried about the willingness of the US to pay for its commitments, either thru budget cuts or higher tax rates.
You’d better watch who’s giving Romney money. And Huntsman isn’t signing your pledges.
At some point, the RINOs are gonna sh#t you out so you can crawl off somewhere to make your own nativist fringe Tea Bag Dream Party, and quit interfering with normal RINO-mode competition for political power. Sharon Angle (for one) secured a democrat (Reid) in the general by her antics, but a RINO could have won that seat.
ogee, you’ve got more problems to deal with than a few hairy liberals.. You are starting to f#ck with the real levers of power, and pretty soon the boardroom is going to send a pipe-hitting f#cker over to deal with you.
toongoon commented:
Oh crap,who left the door open? The troll got back in.
gus commented:
Sorry Baggtard. You are just babbling incoherantly. Much like the LAME FVCK PRESIDENT. Opie O’dimwit.
It’s over BAGGTARD. Obama’s Presidency ENDED…..tonight.
It’s over BAGGTARD. I suggest you buy your Barry Ofvkktard souvenirs and memorabilia NOW.
He is CLEARLY the biggest FVCK-UP in AMERICAN HISTORY.
ogee commented:
I’M AN EX DEM & YOU DO NOT SCARE ME. I KNOW ALL THE DELUSIONS YOU HAVE AND GAMES YOU PLAY. I’M DON’T CARE ABOUT ROMNEY. GO GET DRUNK. YOU HAVE NO IDEA WHAT YOU ARE TALKING ABOUT. Tea party is not only repubs. Pick a clue.
ogee commented:
The barroom is that way troll —————–>
gus commented:
I guess all that is left is for Ofvck-up to spend a week with the BEAUTIFUL PEEPS on Martha’s Vineyard to……..SEAL THE DEAL.
NA NA NA NA, NA NA NA NA, HEY HEY HEY, GOOD BYE.
And America is left is tatters. Sha doobie.
donh commented:
Hey John McCain…quit hiding behind the bagger name…we all know its you…go back to your bath house tub . Time for your page boy massage.
Rock commented:
Yea, and the little man has a big chip on his shoulder. Must be sad going thru life hating your place in the scheme of things.
dwd commented:
has anyone said it yet?
UNPRECEDENTED
toongoon commented:
Troll, you have no idea how tea partiers think. Your posts are full of nonsense like you have no idea what you are trying to say. You need to brush up on talking points. The use of profanity exposes your inability to debate. But please commenting because we need practice in humiliating our enemy.
ogee commented:
It’s over for O’blame. As of today he SEALED THE DEAL.
gus commented:
LIBTARDS SPEND US INTO OBLIVION. Our countries DEBT is so bad, that we are DOWNGRADED as a CREDIT RISK AND LIABILITY for the 1st time in 100 YEARS.
And the Tea Parties are blamed.
Wow, 2012 is going to be fun.
ogee commented:
Tea party is vast and wide with millions of members across the USA. You can’t pick us out of the crowd. There are too many of us and too many different factions and groups and party affiliations. Good luck trying to scare us goon. You are just another slave for Oblame.
ogee commented:
Oblame gave USA a fico credit score of 320 as of today. That’s deadbeat status. No mo handouts for you low IQ troll. Oblame broke the bank.
toongoon commented:
Goon?
gus commented:
Ogee. My friend. This is the MEME of LIBTARDS. Don’t try to argue it. They are going to blame ANYTHING EXCEPT Ofvcktard.
Baggers are the enemy commented:
ogee commented: Tea party is not only repubs.
ogee, excellent! But did you notice not even the Blue Dogs backed Boner’s Slice, Dice and Knee-cap bill? The Blue Dogs are conservative, they are not radical. Baggers are radical.
So here’s the bottom line: where is political home for a bagger? Not the Democratic Party, it seems.. And pretty soon, not the GOP, you’ve worn out your welcome..
Your positions are too extreme for any existing party to tolerate, so you’ll have to be your own party, to stake our your own pure radical agenda and draw support to it. And THAT will be the end of you.
gus commented:
“a FEW HAIRY LIBERALS”.
Hahahahahahahahahahahahahahahahhaaha. It’s over LIBTARD. It’s over. Whether you FREAKTARDS resolve to RIOT and sh@t your pants in anger, is really up to you.
WE OWN YOU LIBTARD. And we’re coming to get you!!!! Be afraid LIBTARD. Very afraid.
gus commented:
The “BAGGER” is afraid. It’s hilarious. The LIBTARD is scared.
toongoon commented:
Senator dickless turban is a conservative? You idiot, he’s from Illinois, he’s no conservative. He’s like you, he compared our servicemen to nazi’s, polpot, and any other 20th century mass murderer he could think of.
Conservatives, bah.
Rock commented:
#80, True, but it is funny watching his frantic scurrying around trying to be knowledgeable on something he has no understanding or appreciation of. Like a two year old in a candy store he see’s all the pretty colors but has no clue of how they taste.
gus commented:
Here is the analysis of TODAYS… S and P…BAD NEWS.
Libtard clowns, like “BAGGERS”, don’t get it.
America was DOWNGRADED, because of the SPENDING, and no BELIEF that the ability to pay the money back CAN OR WILL OCCUR.
Obama is a COMMIE. Commies don’t create REVENUE POSITIVES, because COMMIES CHOKE THE ………….CAPITALIST GOOSE.
BAGGER. You and OFvcktard, are fvcked.
StrangernFiction commented:
ogee, you’ve got more problems to deal with than a few hairy liberals.. You are starting to f#ck with the real levers of power, and pretty soon the boardroom is going to send a pipe-hitting f#cker over to deal with you.
hairy liberals? the real levers of power? hahahahahahaha Well played?
gus commented:
BOTTOM LINE LADIES AND GENTLEMEN.
Libtards have promised PUNCH AND PIE to ANYONE and EVERYONE, who would bring them VOTES EN MASSE. They promised YOUR MONEY, they promised FOOD, MONEY, ETC ETC ETC ETC ETC……FOR DECADES.
TIMES UP. How’d they do???
All that LIBTARDS HAVE LEFT. Is the FULL COMMIE. THE FULL COMMIE. I’ve said it HERE for 2 years now. They are HEROIN ADDICTS and they have nothing left to STEAL.
Fionnagh commented:
Bestest birthday gift he could have ever asked for – can’t help but wonder over the timing of it all.
Fionnagh commented:
gus, yes, they do. Our IRA’s, 401(k)s and other assorted pensions.
befuddled commented:
He will start noticing when it drops to a “B+” like his presidency. The “B” is for Blame Bush.
CommieJuice commented:
Why is everyone so upset? He killed Bin Liden, remember? Happy 57, opps, 50th Mr. Lame Duck!
ahem commented:
ogee: When all you have is a hammer, everything looks like a sickle.
Devon commented:
He is really pushing a long the stereotype. First black president is the first president to receive bad credit.
ohiochili commented:
Where’d you go, bagger? Mom and Dad come home and catch you on the internets again? It’s going to be serious this time. They’ll probably take your comic books away and that first edition set of Star Trek action figures you got for your 32nd birthday.
Hairy little lefty trolls like you and your crude, nasty taunts aren’t worth the time for an adult, intelligent debate, but it’s fun to laugh at you.
Every day, in every way, the messiah and his thugs are convincing Americans that TEA is the way to go to save the United States.
Iconoclast commented:
Seems to me poor widdle baggers is pissed because he just realized his free ride will be over in about 18 months.
I will say it would be delightful to have the libturd pussies start something – now or after we throw the affirmative action ‘first’ couple of entitlement whores back into the gutter from which they oozed. It would save the effort of changing the targets down range while simultaneously dramatically reducing the the entitlement spending. So, widdle baggers, your bluff is called – please bring it on.
Iconoclast commented:
The photo is perfect. The petulant ‘terrible two’ just had his candy confiscated by an adult. As Christina Romer (herself no poster child of responsibility) noted yesterday we are “pretty darned f—ked.” Apparently Geithner is somewhat more advanced than his boss, as she noted timmy can swear “like a seventh grade boy.”
Too bad Ø & company are operating like diaper-clad rug rats in every other aspect of this regime except for the parties held & money wasted.
Ausonius commented:
I don’t know why this should come as a suprise at all. They as much as said what they were looking for in order to preserve the credit rating: a debt deal that cuts 4-5 trillion.
I guess the old DC ways assumed that they could just keep on keeping on, status quo, and S&P would just wink right along with them.
It must shock them that anyone could actually mean what they say.
Both the Ryan plan and Cut, cap and balance would have likely preserved the rating.
Wanna bet that the White House’s objection of the 2 trillion “error” was actually S&P making the accurate presumption that long term agreements will not be honored in the future and therefore are assumed not to ever occur.
As I understand the debt deal, it was just like every other so-called spending cut in that it is backloaded in terms of actual cutting and therefore, doesn’t cut a thing in a meaningful way.
The HOR is nearly as guilty in the sense that the rather spineless leadership demanded passage of something. Sad that they obtained little if anything.
It disgusted me to watch all of them taking credit for a “victory” knowing they did very little to solve anything. Not even 10 billion in cuts for 2012.
mg4us commented:
Not one but two Unprecedented events. . .
- US debt downgraded and
- officially we have a worse president than Carter!!
As bad as Carter was, as bad as the US economy was with odd/even gas line days and a sky high misery index, he never has the US credit worthiness downgraded.
Obama surpasses Carter to officially downgrade US credit rating thereby gaining him the official title “Worst President Ever”.
This is what you get when you elect someone who is not a naturally born citizen, who keeps their transcripts secret, reveal a fake birth certificate, and pals around with commies and known terrorists.
Obama – - INCOMPETENT, Inept, Inexperienced and On-to-himself. . .Obuma!
2012, if not sooner, get him out! Time for real change to restore our country’s credit rating.
mg4us commented:
Obama parties in Chicago and DC Rose Garden while nation credit rating, dollar and economy sinks. . . just like the band played on while Titanic went down!
Seems only Palin and Bachmann have the balls to straight talk and confront what is fundamentally wrong with the leadership in our government! Not a wuss lke Obama.
Wonder how the Sunday talk shows and MSM will spin this?
Obama/Geitner. .wrong on US credit rating, wrong on recovery, wrong for America!
2012, if not sooner, get them both out! Time for real change to restore our country’s credit rating.
Obama – – INCOMPETENT, Inept, Inexperienced and In-to-himself. . .Obuma!
Neo commented:
This downgrade was the only fair thing to do.
If it is based on a math error, I’m sure that in no time, they can borrow and spend their way there, unless they take it as a warning, a “wakeup call”, but we all know they won’t.
“Eventually, Socialists run out of other peoples’ money” — Margaret Thatcher
“Time has come today” — The Chambers Brothers
Espresso Logic - The 6th Sense commented:
#20 August 5, 2011 at 10:10 pm
The Baggers are the enemy commented:
On the long journey back to fiscal sanity we often step in dog crap. We will wipe you off and move on.
feduptoo commented:
Obama’s “change” was for OUR money to be given to foreigners, not help the USA.
He’s increased foreign aid by 40%, introduced a program where we are paying all college tuition, room & board, plus a monthly allowance to send Kenyans and others to college in their own countries.
He has never said he would cut foreign aid, giving to the IMF, the UN, any and all foreign and domestic organizations…..he ok’s loans to foreign countries to go after their oil and build refineries, while banning ours.
His buddy, George Soros has been working to see the dollar die, so his dream of one world currency and financial system takes over….I suspect Soros, Obama, and their comrads are very happy about our downgrade!
I hope Obama, Holder and anyone else involved in their gun running and drug running scheme, are held on treason charges!
mg4us commented:
Here is an interesting story that needs to be passed on to all your colleagues & friends. . .
http://www.americanthinker.com/2011/08/the_presidents_new_clothes.html
RKflorida commented:
I don’t understand why it’s a catastrophe. Or even an apostrophe.
Perhaps we should be downgraded so low, that our government can’t borrow at all. That might accomplish through different means what we have wanted all along.
proudredneck commented:
Empty suit has set another record.
JPeden commented:
#20 August 5, 2011 at 10:10 pm
The Baggers are the enemy commented:
“Waaaa, my right as a born Parasite shall not be abridged! Where’s my Mommy….waaaa, I want my bottle! Quick, Mr. Atty. General Holder, as one of your kind of, er, “people”, I demand protection under the Endangered Species Act with you!”
Militant Conservative commented:
#20
it’s called projection.
Which group is adhering to the constitution?
Those that are not based in the constitution are
the Traitors and un-American. Nice job describing
Yourself and the entire socialist left.
Powder is dry