Moral Outrage
Whew! God help us!

US credit rating downgraded

The Standard & Poor’s rating agency announced today that it has downgraded the U.S. credit rating to AA+ from its top rank of AAA.

“The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics,” the agency said.

Moody’s first assigned the United States a AAA rating in 1917.

The announcement came on a day when financial anxiety gripped the globe. Stock markets worldwide saw intense volatility amid worries of a widening debt crisis in Europe and a stalled economic recovery in the United States.

CNN

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5 Responses to “US credit rating downgraded”

  1. This is another tool used by the party of Treason (GOP)
    its only an opinion with no scientific method. their math was off by 2 trillion. Their rating has no value. It`s time for Obama to finally use his attorney generals office to start arresting hundreds who committed this world financial fraud.
    This is also in response to the Senator Franken bill in the senate.

    • Whether the method is scientific or not, the die is cast.

      S&P’s downgrade was as much a political critique as a financial conclusion. It is based on a view that American political leaders would be unable to come up with at least $4 trillion in savings, which is needed to bring the nation’s debt to a manageable level over the next decade.

  2. THEY WERE OFFERED 4 TRILLION IN CUTS ALREADY. THE GOP WANTS TO CRUSH AND CONTROL THE MIDDLE CLASS.THEY ARE UNDERESTIMATING THE ANGER BACKLASH THAT`S COMING. THE MYTH THAT THE MONEYS NOT THERE IGNORES THE STEADY GDP GROWTH WHETHER SLOWER OR NOT. SOMETHING TO LOOK AT. http://news.firedoglake.com/20​11/04/19/proper-reaction-to-sp​-credit-downgrade-threat-burst​ing-out-laughing/

  3. […] sharply down, and Asia exchanges lost ground across the board Monday, as investors responded to the unprecedented downgrade of U.S. debt on Friday, and concerns around the ongoing eurozone […]

  4. […] The numbers leading S&P to downgrade U.S. Credit: […]


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