Dear Mr. President, happy birthday and thanks for nothing:
A cornerstone of the global financial system was shaken Friday when officials at ratings firm Standard & Poor’s said U.S. Treasury debt no longer deserved to be considered among the safest investments in the world.
S&P removed for the first time the triple-A rating the U.S. has held for 70 years, saying the budget deal recently brokered in Washington didn’t do enough to address the gloomy long-term picture for America’s finances. It downgraded U.S. debt to AA+, a score that ranks below Liechtenstein and more than a dozen other countries, and on par with Belgium and New Zealand.
The unprecedented move came after several hours of high-stakes drama. It began in the morning, when word leaked that a downgrade was imminent and stocks tumbled. Around 1:30 p.m., S&P officials notified the Treasury Department that they planned to downgrade U.S. debt and presented the government with their findings.
Nearly four years of full Democratic control of our government, and we have 9% unemployment, anemic GDP growth, longer unemployment lines, record numbers on food stamps, and now, our credit rating is in the toilet.
Heckuva job guys.
Welcome To My Blog
- June 2012 (1)
- May 2012 (1)
- October 2011 (14)
- September 2011 (16)
- August 2011 (25)
- July 2011 (13)
- June 2011 (10)
- May 2011 (15)
- April 2011 (10)
- March 2011 (50)
- February 2011 (44)
- January 2011 (25)
- December 2010 (27)
- November 2010 (35)
- October 2010 (67)
- September 2010 (47)
- August 2010 (21)
- July 2010 (27)
- June 2010 (22)
- May 2010 (41)
- April 2010 (56)
- March 2010 (61)
- February 2010 (63)
- January 2010 (46)
|redpillreport on Obamacare and the fight a…|
|Jaydee on Average American workers still…|
|Olliander on DWS: Ten year incumbent Govern…|
|Scott Kalbach on DWS: Ten year incumbent Govern…|
|Maxine Waters: Why i… on DWS: Ten year incumbent Govern…|
- RT @Bencjacobs: Firefighter tells me Baltimore fire department is "totally out of resources" 1 hour ago
- RT @stopbeingfamous: This is happening an hour away from the White House. 1 hour ago
- @Market_Bull here's hoping things are calmed down by the time he gets there. 2 hours ago
- @Market_Bull nothing good will come of that. When will he be there? 2 hours ago
- RT @_cingraham: Jaw-dropping stats on Freddie Gray's Baltimore neighborhood: half of residents not working, 33% of homes vacant http://t.co… 2 hours ago