Funny, I Don’t Feel AA+

by Ryan on August 7, 2011

in Economy,International Relations,Politics,Stupid government

Right around the time when people were fleeing home for the weekend on Friday afternoon, Standard and Poors decided to downgrade America’s credit rating to AA+ from AAA.  Of course the administration is irate and the G20 has decided hold emergency talks about how they feel about US treasuries moving forward. 

A downgrade could mean that it will be more expensive to buy US debt, which means less people will buy it, which could cause a ripple effect of interest rate increases across the economy.  Not good.

So as the administration’s reckless spending, hidebound economic policies, and base crisis politics have now pushed America into the first ratings downgrade in our history, they call S&P’s downgrade political and based on false assumptions.  However, one could also make the argument that Moody’s refused to downgrade us for the same reasons.  Remember, nothing’s ever the Obama Nation’s fault.

Hopefully, the fallout from this will be minimal since S&P telegraphed this move for weeks.

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Supporters of “President Downgrade”: Downgrade is Tea Party’s Fault | Axis of Right
August 8, 2011 at 2:13 pm

{ 1 comment… read it below or add one }

rightonoz August 8, 2011 at 3:41 am

The consensus in our region is that S&P did it out of frustration with BOTH sides for focussing more on point scoring than getting something done.

I’d agree, mind you the Rep party having to try to drag the Tea Party to a realistic position must have been a struggle.


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