WestVirginiaRebel Posted August 6, 2011 Share Posted August 6, 2011 Washington Post:Standard & Poor’s announced Friday night that it has downgraded the sterling U.S. credit rating for the first time.The move came even though the Treasury Department said that it had found a math error in the firm’s calculations of deficit projections, according to a person familiar with the matter.S&P decided to lower the AAA rating, held by the United States for 70 years, to AA+ after a bipartisan debt deal signed into law this week failed to assuage concerns about the nation’s growing spending.Analysts have said a downgrade could increase the cost of borrowing for the U.S. government and lead to tens of billions of dollars in more interest costs per year. That could translate into higher borrowing for consumers and businesses, too.A downgrade would also have a cascading series of effects on states and localities that rely on federal funding, including in the Washington metro area, potentially raising the cost of borrowing for schools and parks. But the exact impact of the downgrade won’t be known at least until Sunday night, when Asian markets open, and perhaps not fully grasped for months. Analysts say the immediate term impact is likely to be modest because the markets have been expecting a downgrade by S&P for weeks.________Double A, double dip... Link to comment Share on other sites More sharing options...
Saltbag Posted August 6, 2011 Share Posted August 6, 2011 The NPR spin Not Obama's fault ... just more issues his majesty has to deal with. Link to comment Share on other sites More sharing options...
Pepper Posted August 6, 2011 Share Posted August 6, 2011 Another First for The Won! Barack Hussein Obama, First President in history to have the US credit rating downgraded on his watch. Link to comment Share on other sites More sharing options...
Pepper Posted August 6, 2011 Share Posted August 6, 2011 Sad face of The Won and his AA+ Link to comment Share on other sites More sharing options...
Pepper Posted August 6, 2011 Share Posted August 6, 2011 Shared Sacrifice Bus Tour Link to comment Share on other sites More sharing options...
Pepper Posted August 6, 2011 Share Posted August 6, 2011 April 2011 Timmy Nostradamus Geither speaks Geithner: No Risk U.S. Will Lose AAA Credit Rating Link to comment Share on other sites More sharing options...
Pepper Posted August 6, 2011 Share Posted August 6, 2011 ("At least the dollar hasn’t been hopelessly devalued through multiple quantitative easings."-- HotAir)sarcasm What used to be a 401(k) had turned into a 200 1/2 (k). It will soon be a 100 1/4 (k) Link to comment Share on other sites More sharing options...
SrWoodchuck Posted August 6, 2011 Share Posted August 6, 2011 (edited) Pepper! Based on the sheer number of your postings...[and fine one's they are-btw]....you appear to be slightly PO'd. This is "Daddy grounding Junior for a year & yanking his car keys!" Paul Krugman is already blaming the "Far Right" for this debacle......and The WH is blaming "a mistake in accounting @ S&P"....while Junior is at Camp & refuses to say anything until TOTUS is loaded with the proper political pablum from Val J, Daley & the vaunted intellectual socialist professors who don't yet have a clue..... This is simple.....Standard & Poor is still a private enterprise in a capitalist business structure. They haven't been co-opted by a socialist government yet.....and they base their business decisions on sound business principles, an idea that is foreign to the current administration. Hope & Change was downgraded yesterday & the US economy with it. How hard is it to understand a capitalist rating agency giving a downgrade to a socialist government? I mean....I'm a high school graduate, self-employed grampa.....& I can see it. Ooop's......I'm a little PO'd myself. Just wait until all my credit cards increase their rates & I'm working for them & the governme..........oh......never mind....[/rant] Edited to add: I thought I was through until I read that they're already oiling the government presses for QE3......they really think they'll print enough money to buy up that nasty debt.....God help us all. I have to say, it sure seems that Obama & ilk are trying to participate a severe crisis & get us "all the way there....from halfway." Edited August 6, 2011 by SrWoodchuck Link to comment Share on other sites More sharing options...
Evad Posted August 7, 2011 Share Posted August 7, 2011 Put it in GOLD! Link to comment Share on other sites More sharing options...
Evad Posted August 7, 2011 Share Posted August 7, 2011 The Empire Strikes Back http://www.foxbusiness.com/markets/2011/08/07/treasury-hits-back-against-sp-downgrade/ Link to comment Share on other sites More sharing options...
Evad Posted August 7, 2011 Share Posted August 7, 2011 So, since it's a given that "IT's ALL BUSH's FAULT", how did the evil W get the S&P to downgrade the AAA rating??? Link to comment Share on other sites More sharing options...
pollyannaish Posted August 7, 2011 Share Posted August 7, 2011 Good grief. That W guy sure is powerful for being such a dunce. Link to comment Share on other sites More sharing options...
NCJim Posted August 7, 2011 Share Posted August 7, 2011 yep and the liberal senate helped... Link to comment Share on other sites More sharing options...
NCJim Posted August 7, 2011 Share Posted August 7, 2011 Small Businesswoman’s Epic Rant Against Obama’s Disastrous Economic Policies My link Link to comment Share on other sites More sharing options...
Pepper Posted August 7, 2011 Share Posted August 7, 2011 NCJim! Good rant, thanks. Link to comment Share on other sites More sharing options...
Pepper Posted August 7, 2011 Share Posted August 7, 2011 SrWoodChuck You're darn right I'm po'd. So is evad, count his posts here Link to comment Share on other sites More sharing options...
Saltbag Posted August 7, 2011 Share Posted August 7, 2011 Small Businesswoman’s Epic Rant Against Obama’s Disastrous Economic Policies My link Wow, I love this woman! I wish I could speak that articulately when I get excited. I especially liked the comment about "inheriting a mess every day, and it's her job to fix it." Spot on. Thanks, NCJim Link to comment Share on other sites More sharing options...
Evad Posted August 8, 2011 Share Posted August 8, 2011 SrWoodChuck You're darn right I'm po'd. So is evad, count his posts here Pepper! I couldn't stop myself. I never could understand it when my people exhibited so much hatred and vehemence toward Bill Clinton.. And of course I didn't understand the rabid dog hatred of the lefties toward W... But it has only taken a year and a half for me to now understand what that feeling is like. I absolutely despise BHO, all his sycophants and everything he stands for. He is ruining my country and the future of my kids and grandkid. It's personal. Link to comment Share on other sites More sharing options...
nickydog Posted August 8, 2011 Share Posted August 8, 2011 I've been saying the same thing, evad. Now I understand how Bush derangement syndrome felt because that's how I feel now. Obama derangement syndrome. I, too, despise them all. Link to comment Share on other sites More sharing options...
Paladin1DCS Posted August 8, 2011 Share Posted August 8, 2011 SrWoodChuck You're darn right I'm po'd. So is evad, count his posts here Pepper! I couldn't stop myself. I never could understand it when my people exhibited so much hatred and vehemence toward Bill Clinton.. And of course I didn't understand the rabid dog hatred of the lefties toward W... But it has only taken a year and a half for me to now understand what that feeling is like. I absolutely despise BHO, all his sycophants and everything he stands for. He is ruining my country and the future of my kids and grandkid. It's personal. You're right that it's personal Evad, but you're PO'd at the wrong person. BHO is exactly what he claimed to be, an agent of change. The problem is that 52% of the people in this nation were too stupid to ask what kind of change is he going to bring about. We, as a nation, elected this idiot and while I get just as pissed at what he's doing as you do, I remember that this isn't anything outside of what he promised to do, so I get pissed at those mindless morons with the "Yes we can" stickers on the back of their cars. Those idiots, not BHO, are responsible for the mess we're in right now. Link to comment Share on other sites More sharing options...
Evad Posted August 8, 2011 Share Posted August 8, 2011 SrWoodChuck You're darn right I'm po'd. So is evad, count his posts here Pepper! I couldn't stop myself. I never could understand it when my people exhibited so much hatred and vehemence toward Bill Clinton.. And of course I didn't understand the rabid dog hatred of the lefties toward W... But it has only taken a year and a half for me to now understand what that feeling is like. I absolutely despise BHO, all his sycophants and everything he stands for. He is ruining my country and the future of my kids and grandkid. It's personal. You're right that it's personal Evad, but you're PO'd at the wrong person. BHO is exactly what he claimed to be, an agent of change. The problem is that 52% of the people in this nation were too stupid to ask what kind of change is he going to bring about. We, as a nation, elected this idiot and while I get just as pissed at what he's doing as you do, I remember that this isn't anything outside of what he promised to do, so I get pissed at those mindless morons with the "Yes we can" stickers on the back of their cars. Those idiots, not BHO, are responsible for the mess we're in right now. Good point.. he did exactly what TOTUS told him to do. I still despise him Link to comment Share on other sites More sharing options...
Evad Posted August 8, 2011 Share Posted August 8, 2011 Paladin! You've succeeded in making me despise a whole bunch more people. I feel better already. Thanks!! Link to comment Share on other sites More sharing options...
Evad Posted August 8, 2011 Share Posted August 8, 2011 Hey, all I can say is...GOLD is UP!!! Link to comment Share on other sites More sharing options...
Pepper Posted August 8, 2011 Share Posted August 8, 2011 August 8, 2011 TOTUS to speak - sometime today on the Debt. Link to comment Share on other sites More sharing options...
Pepper Posted August 8, 2011 Share Posted August 8, 2011 Mr SSSSS Sibilant in action ! TOTUS "we didn't need a ratings agency" to tell us there was a problem with debt ceiling Getting ready for blame Bush mode Earthquake Japan Arab Spring Link to comment Share on other sites More sharing options...
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