Of course it would happen under THIS President! In case you haven’t heard. Standard and Poors, one of the three top credit rating agencies, has downgraded the borrowing status for the United States government from top level AAA to a notch below, AA+. Nothing good can come from this. And true to their oh so obvious form, the Obama Administration is downplaying it and claiming faulty numbers, etc., etc., etc. In other words, their attitude is “you..you can’t do that!…we put together this sham of a deal last week!…everyone agreed to it!…even the Republicans…well, most of them….”
S&P is standing by it’s conclusion:
“It’s always possible the rating will come back, but we don’t think it’s coming back anytime soon.” – David Beers, head of S&P’s government debt rating unit
They cite “political brinksmanship” claiming it made the government’s ability to manage finances “less stable, less effective, and less predictable.” Sort of describes the Administration and Washington in general, doesn’t it? Government officials’ response is one typical of such; they believe the ratings agency is “too aggressive”. Heads in the sand, folks!
S&P also says “a new political consensus might [or might not] emerge after the 2012 election, but we believe that by then the government debt burden will likely be higher.”
So we now venture into uncharted territory. This is a first. A first we could have done without. And we have that arbiter of “hope and change” to thank for most of the predicament we find ourselves in. He is nothing more than another example of the arrogance and ineptitude of the men and women we continue to place in public office.
>>>>>More reading: AMERICA’S DEBT DOWNGRADE IS A DAMNING INDICTMENT OF PRESIDENT OBAMA’S BIG GOVERNMENT DISASTER! – The U.K. Telegraph <<<<<<<<<<<<<<<<<<<<<<<