[BillM]

April 18,2011 will go down in history as the beginning of the end of the Federal Reserve Note. Today we lost our AAA rating and went to AA.

This is a first.

Hyperinflation will follow.

 

[bobadi]

Do you have a link? I can't find anything on this.

Thanks!

 

[Immolatus]

At this point, it seems they are just 'threatening'. I wonder if they could be strongarmed into keeping it at AAA. This would clearly spell disaster for the country.
The republicans plan is to cut the deficit by 6T by raising the debt ceiling to 19T by 2016, and Obamas plan raises it to 20T. This is what they come up with? The only way to get myself out of debt is to borrow more? 30% more? Thats their plan? They obviously take us for complete fools.

 

[The_Blob]

S&P changed us from stable to negative... the rating didn't change

S&P: U.S. Outlook 'Negative'

Standard & Poor's lowered its outlook for the nation's long-term debt Monday, saying the political grousing over the deficit could put more pressure on the still shaky economic recovery.

"The outlook reflects our view of the increased risk that the political negotiations over when and how to address both the medium- and long-term fiscal challenges will persist until at least after national elections in 2012," said S&P credit analyst Nikola Swann.

S&P maintained its top-tier 'AAA/A-1+' credit rating on U.S. sovereign debt, saying the nation's "highly diversified" economy and "effective monetary policies" have helped support growth. But the ratings agency lowered its outlook for America's long-term credit rating to "negative" from "stable."

The outlook means that there is a one-in-three likelihood that it could lower the long-term rating on the United States within two years, S&P said.

White House Strategy = FAIL

 

[rockpilefarmer]

as I heard

my connections tell me China plans to reel in the loans to us come June.

 

[Clarice]

Would not surprize me Rockpilefarmer, the tightrope this country is walking is fraying on both ends and neither Ben nor Obama have enough magic tricks left to save it.