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.
It had nothing to do with ex President Bush. It was all about the Obama, democrats and their attack on America.
O yes! It is an attack! If not, then everyone would have to agree that these people, Obama and his supporters, are the stupidest, most arrogant, narcissist people on the face of the earth! No one will admit that.
Their policies and dreams for America are destroying us!
Obama would not listen to the rating agencies that strongly suggested a 4 trillion dollar cut in SPENDING! Or the people (T-party) or Ryan or others who put forth good, sensible plans to get the budget and deficit under control.
But no, Obama knew better didn’t he?
That is spelled out below;The credit rating agency said that it is cutting America's top AAA rating by one notch to AA-plus. The credit agency said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation.
A source familiar with the discussions said that the Obama administration feels the S&P's analysis contained "deep and fundamental flaws." (does he or can he understand this it is his policy and analysis that is deeply flawed!) Nope, now he blames the S&P!
S&P said that in addition to the downgrade, it is issuing a negative outlook, meaning that there was a chance it will lower the rating further within the next two years. It said such a downgrade to AA would occur if the agency sees less reductions in spending than Congress and the administration have agreed to make, higher interest rates or new fiscal pressures during this period.
What does the world think about us?
China, the largest foreign holder of U.S. debt, demanded Saturday that America tighten its belt and confront its 'debt-addiction' in the wake of the Standard & Poor's decision to downgrade the U.S. credit rating from AAA.
So, what will Obama do?
Maybe just attend another fund raiser for his re-election bid…