Now AA+ (not AAA) S&P DOWNGRADE WATCH

[MB]

You can blame the Tea Party for this.  Debt ceiling wasn't raised in time, tax increases for the wealthy didn't go through.  What did you expect would happen.  Everything that economic advisors said would happen if the debt ceiling was raised and tax revenue increased has happenned. 


They thought it was a bluff.....and they were wrong....Unbelievable!!!!  Now my business may be in trouble because less people will be approved for credit...

It's amazing that you blame the only group that had the right solution.  As a matter of fact, not raising the debt ceiling would have been the only way to avoid a credit downgrade. 

[Soul Crusher]

It's amazing that you blame the only group that had the right solution.  As a matter of fact, not raising the debt ceiling would have been the only way to avoid a credit downgrade. 

95ers are brain dead dopes with one purpose, run and provide cover for bam bam. 

[George Whorewell]

I've been running a business for 10 years so I already know that.  My point is that disaster struck because the Tea Party forced the GOP to do something that was errational and completely irresponsible to the point where we came within hours of defaulting on our bill obligations and for that reason among the deal signed was haphazard and rushed,  the S&P responded with a credit downgrade.

Oh brother.

Apparently you know as much about the English language and economics as you do about contest prep.

Disaster was imminent because our revenue is vastly outweighed by our debt you stupid fuck. Throw in the fact that geniuses such as yourself proposed tax hikes in the middle of an economic downturn, refuse to allow entitlement reform (our biggest unfunded liability) and never even submitted a budget despite being in control of two houses for almost five years.

The Tea Party had the right idea-- What mindless baboons such as yourself can't digest is the fact that the downgrade was going to happen anyway. The President and the Democratic party dont have a fucking clue on how to create jobs or reduce the deficit. In 2012 we are finally going to have an adult running the country.

[Soul Crusher]

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CBS: Dems, GOP react to debt downgrade [ copy it fast! ]
cbsnews.com ^ | Aug 5 2011
Posted on August 6, 2011 1:19:22 AM EDT by NoLibZone

(CBS/AP) Following the news Friday of Standard and Poor's downgrade on the U.S. debt, several politicians from both sides of the aisle offered their reactions.

Democratic Senate Majority Leader Harry Reid released a statement: "This makes the work of the joint committee all the more important, and shows why leaders should appoint members who will approach the committee's work with an open mind -- instead of hardliners who have already ruled out the balanced approach that the markets and rating agencies like S&P are demanding."

Reid was referring to the special bipartisan congressional committee -- made up of six Democrats and six Republicans -- assigned to the task of recommending further deficit and debt reduction ideas.

S&P downgrades U.S. debt S & P statement on U.S. debt downgrade Treasury Dept.: Downgrade flawed by $2-Trillion error

Republican Speaker of the House John Boehner offered his take on the downgrade in a statement: "This decision by S&P is the latest consequence of the out-of-control spending that has taken place in Washington for decades. The spending binge has resulted in job-destroying economic uncertainty and now threatens to send destructive ripple effects across our credit markets."

He added: "Republicans remain committed to ensuring the United States always meets its obligations. Though we are outnumbered in Washington, we will continue to press Democrats to join us in taking meaningful steps to rein in our debt and deficits."

Also reacting to the news was U.S. Sen. Mark Kirk, who says President Barack Obama should recall Congress to improve the recently-passed $2 trillion deficit reduction plan.

The Illinois Republican says a recall of Congress by the president would reassure the markets. The Dow fell 5.8 percent this week, losing 513 points on Thursday alone.

Kirk said he believes the nation faces difficult times ahead, noting interest rates on home and auto loans and credit cards could go up "if we just sit back and watch things happen."

Some of the 2012 Republican presidential hopefuls also chimed in. Former House speaker Newt Gingrinch offered his opinion on the debt downgrade via his Twitter account: "The Obama disaster continues. Highest food stamp level and lowest credit rating in history in the same 24 hours."

Mitt Romney, another GOP candidate with an eye towards the White House, said on Friday: "America's creditworthiness just became the latest casualty in President Obama's failed record of leadership on the economy. Standard & Poor's rating downgrade is a deeply troubling indicator of our country's decline under President Obama."

Romney's fellow challenger, Michele Bachmann, said of President Obama: "This President has destroyed the credit rating of the United States through his failed economic policies and his inability to control government spending by raising the debt ceiling."

A Treasury Department spokesperson commented about S&P's decision: "A judgment flawed by a $2-trillion error speaks for itself."

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Impeach this stupid fuck now!