Friday, August 05, 2011

He's Historic, Alright: Standard & Poor's Downgrades US Debt to AA+

Papa B told me that he had gone liquid a few days ago, anticipating some sort of reaction by the rating agencies after the pathetic debt ceiling "deal". I assume he meant his investments and not some geriatric G.I. condition. And it looks like he was prescient, because rating agency S&P just downgraded U.S. debt to AA+ for the first time in history.

Nice work, RINO dumbasses: "S&P issues unprecedented downgrade of US credit rating, saying debt package falls short"

Credit rating agency Standard & Poor’s says it has downgraded the United States’ credit rating for the first time in the history of the ratings.

The credit rating agency says that it is cutting the country’s top AAA rating by one notch to AA-plus. The credit agency said late Friday 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.

As I predicted more than a week ago, the pathetic RINO leadership negotiated against themselves and ended up proferring a deal that helped get the U.S. its first ever downgrade:

Boehner had two nuclear weapons at his disposal. And he chose to use neither. He had the debt ceiling and a threat of a downgrade by the rating agencies.

Cut, Cap & Balance addressed both issues.

If Republicans had united behind CCB, they could have forced a vote in the Senate -- by putting massive pressure on the 20 Democrats who had earlier pledged to support a Balanced Budget Amendment -- and send it to the President's desk.

Boehner could then tell the American people: there's only one plan that addresses the deficit and prevents a downgrade.

And let Obama deal with the fallout of a veto -- if he has the guts.

Instead, we submit a plan that still results in downgrade and default.

Idiocy. Sheer, unmitigated idiocy.

What a bunch of nimrods. Obama and his sycophants are busy destroying the full faith and credit of the American currency... and the RINOs won't even put up a fight.

We need a lot more conservative cavalry for 2012.

Update: Outlook: Negative

Update II: Flashback to Turbo Timmy's prediction:

Update III: I guess that "Tea Party as hostage-takers" meme -- for trying to cut government spending -- was an epic fail.


Anonymous said...

Cool, now lets wait for the dollar bubble to burst and we'll have a new source of toilet paper.
Barry should be tried for treason, I'd like to see him in a Mubarak Box explaining how he got that SS number, phoney birth certificate and how easy it is to spend Five Trillion dollars.

kyle said...

The Bilderberg Plot Continues U.S. Credit Rating Downgraded by Standard & Poor’s; Commodities Plummet

kyle said...

The Bilderberg Plot Continues U.S. Credit Rating Downgraded by Standard & Poor’s; Commodities Plummet