Breaking per MSNBC, Standards and Poor has downgraded

[nadinbrzezinski]

US debt...

Just chirped IPAD

Link to story now

The United States lost its top-notch AAA credit rating from Standard & Poor's Friday, in a dramatic reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.
U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the United Kingdom, Germany, France or Canada.

http://www.msnbc.msn.com/id/44040574/ns/business-stocks_and_economy/

[HipChick]

1. Well..I hope the Tea Baggers are happy...

[cutlassmama]

2. they said it was due to a clerical error (mistake)

[rurallib]

3. time to raise some taxes

[nadinbrzezinski]

4. That is one of the reasons actually

our inability to do what needs to be done

[BlueCheese]

5. Eh.

These ratings agencies might be useful for lesser known securities (and maybe not even then, given their disastrous performance in the housing collapse), but when it comes to something as widely studied as the US government debt, I highly doubt they can add any information that others can't.

I think the current very low interest rates say a lot more about our credit than S&P.

[Tatiana]

6. Should have raised taxes on those $250,000+

At least we should have put the tax rates back to Clintonian levels.

Oh well, I guess we aren't thanking G-d it passed now????

[nadinbrzezinski]

12. That is one of the reasons actually

[kittykitty]

7. Grover Norquist. N/ t

[BlueCheese]

8. Let me put it more bluntly.

S&P is full of hot air.

[CatWoman]

10. why them

and not the people who caused this?

[BlueCheese]

15. S&P don't know what they're talking about.

[CatWoman]

17. and "you" do?

[BlueCheese]

18. No, I'm just reading the bond markets

Interest rates on US treasuries are very low right now. They're lower now than at any other time this year. Obviously investors have a lot of confidence in us. What could S&P possibly know that nobody else does?

S&P completely missed the housing slump. I'd hate for us to think we have to embark on a new round of austerity because of the opinion of their analysts.

[Johonny]

19. +1

[BlueCheese]

20. By the way...

... those are great-looking cats.

[MH1]

25. I was reminded by one of my FB friends that S&P gave Lehman AAA just before they tanked.

We trust S&P, why?

[malaise]

9. Well Boehner said he got 98% of what he wanted

and he's happy so there. What's a downgrade if Boehner and Mitch the chinless are happy?

Didn't they tell you that their primary goal is to make Obama fail?
Fuck America - ReTHUGS won.
change number

[MoonRiver]

11. malaise called it again!

:yourock:

[malaise]

13. Not hard with those morons

:fistbump:

The ratings agencies are owned by the banks that fucked up the economy - is it fascism yet?

[banned from Kos]

14. This will be blamed on Democrats in the "liberal" media all weekend

and George Dumbya Bush's $1.3 trillion annual deficit hand off won't be mentioned.

[nadinbrzezinski]

16. I got the feeling, after the MSNBC today

that something is turning in "lib'rul media land."

Capitalism is not creating jobs, government must... Mathews

We need to start thinking of debt holiday Ezra Klein.

I mean the last place I expect anybody to channel their inner Hartman or Malloy.

Perhaps this has something to do with it... but as I said through a character of mine, there are no coincidences under the sun.

[ProudToBeBlueInRhody]

24. Tweety has said this before......

...it's not new for him.

ABC, CBS and FOX will still be blaming it on Democrats.

[NutmegYankee]

21. Throw them into the Hudson.

If you declare economic war on the USA you should be thrown into the fucking Hudson river!

[Major Hogwash]

22. They used the wrong numbers . . . again!!

Per tonight's White House press release.

[Rectangle]

23. Thanks Tea party ---thanks a whole F--ing lot!!

Just be sure, "Normal" America has been watching closely your ridiculous antics,
these past few weeks, and it's been an ugly, ugly picture!
They'll be waiting for you next November!








.