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Friday, August 05, 2011

BREAKING NEWS: S&P Downgrades Credit Rating Of United States

For the first time in its history, the United States has seen its pristine credit rating downgraded, as Standard & Poor's cut the rating to AA-plus from AAA Friday night.From Fox News
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3 comments:

  1. AnonymousAugust 6, 2011 at 6:50 AM

    Watch the left blame the Tea Party for the downgrade. S and P warned that the cuts beibg made were not enough and the Tea Party wanted more, but with the way the left in this country thinks it will still somehow be their fault.

    ReplyDelete
  2. danAugust 6, 2011 at 8:15 AM

    Sand P also said, in thier press release:

    "Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act."

    So, no, the Tea Party and the idealistic Republicans share no part of the blame whatsoever. You are right.

    ReplyDelete
  3. AnonymousAugust 6, 2011 at 9:08 AM

    All parties are to blame for this problem. They allowed the country's budget to get pushed to the edge of the cliff to 11:59 when they had plenty of time to get it done and divert all the bad anxiety and speculation that drives markets down.

    ReplyDelete

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