http://www.reuters.com/article/2011/08/06/us-usa-debt-downgrade-idUSTRE7746VF20110806 translation: we'll see if you vote this bum out of office before we ding the USA again.
That's going to be Obama's legacy. Not even Jimmy Carter could manage this failure, and the ads against him next fall will be devastating. I almost expect a Ted Kennedy/Jimmy Carter reprisal in the primaries, one challenger to the far left of Barry, and another to the right. The downgrade is on old debt, but since spending isn't being cut, this is going to be Bad News Bears for this fall. Yet the Dems and liberals are bashing the Tea Party because they want to decrease spending.
they always deliver the bad news on Friday afternoons. wonder how the market is going to react. coundown til it dips below 10k has begun! :MARIS61:
Apparently S&P is now "reconsidering" as the Obama administration says that S&P used "flawed math". This administration is such a fucking joke. Now they're bossing around S&P and getting them to "reconsider" their rating system. Here is how it will shake out. If S&P does downgrade, they and the Obama administration will put out notice that it is because the GOP is against tax increases. If S&P doesn't downgrade, it's because White House polling over the weekend showed that Americans won't buy that bullshit.
Its time to loot stores and kill babies, this country needs a revolution, so we can transform greed and egomania into positive lives for every single person in the world.
White House must have been in panic mode. S&P and Moody's both say it's because of spending and deficits, and nothing about tax increases have been mentioned over the past month. Even ABC isn't buying the WH spin. Obama is truly a one-of-a-kind President. He was just bitching today about businesses needing to take their money off of the "sidelines". He ain't seen nothing yet.
Nancy Pelosi just had a meltdown regarding the GOP. Only fools believe these talking points, Nancy. Real shit is going down right now.
From April 2011: If this bozo has a job Monday morning, it's time to start wondering if Obama is actually sane enough to keep his job.
pretty sure this will significantly effect my livelihood. Polls were pretty clear who Americans were blaming for the debt ceiling crisis and who was responsible for getting us into this mess. Guessing this will probably get out the vote in a big way. STOMP
Ok, not an economist....i need to know how this really affects us, a country as a whole and please rightwingers dont say the world is ending remember, im one of you guys
its probably a good thing because apparently, most economists don't know what the fuck they're talking about either.
listen to this guy: http://finance.yahoo.com/blogs/brea...e-depression-says-peter-schiff-124843251.html
Sweet. For more years of Obummer and the Dems back in charge, and we'll be AA soon enough. You really need to get out of SF more often. It's rotting your brain.
your vitriol might be interesting if occasionally you were right. I spent almost all of June vacationing in Oregon & Europe STOMP
As another posted said, this will be Obama's legacy. Like it or not he will always be known as the president who last America its AAA credit rating. I think Congress should immediately take up and pass a clean balanced budget amendment. I work for a major bank and am very interested to see what happens on the global markets. My personal guess is the stock market in Japan drops around 5-10% immediately on Sunday afternoon (US time) when their markets open.
