US Credit Rating Downgraded To AA+

[GusFrerotte]

Originally Posted by 12thMan

I guess if there's any silver lining in this shitty picture, and there really isn't, the other two major rating agencies, Fitch and Moody's, reaffirmed their credit rating for the U.S. It's worth noting that S&P did miss the boat horribly during the financial meltdown of 2008 and constantly miscalculated the severity of the pending bubble. I'm not smarter than the folks at S&P, but I think it's safe to say that investors still believe the United States still have the most transparent, stable, and trustworthy Treasuries in the world, bar none.

I haven't read their downgrade in it's entirety, but it appears to be more of a political analysis than a mathematical and economic one. They referenced both parties by name and the political gridlock as one of their chief concerns going forward. I find that a bit disturbing for a rating agency with so much global clout to inject itself into our national conversation in that manner. They should just stick to what they do and let the voters continue to send people to Washington deal with the politics. Just my 2 cents.

Why are we in the mess that we are in then? Who votes to spend the money like water? How could we not be downgraded when we are the worst nation on the planet in terms of total debt(rank 191 out of 191 nation states). Do you really think that our credit staying AAA wasn't due to politics? This nation should have been downgraded in 2008 or even before that. Do you really think this debt ceiling being raised is going to cure our ills? WE are going to default eventually, that is inevitable. Do you want to default down $14 trillion or say $20-24 trillion? Both parties are playing politics and are more concerned about getting reelected and pushing back financial armageddon til after the elections of 2012. S&P has every right to complain about our nations dysfunctional political system, for it is the main reason we are in this mess to begin with. Both parties are just two wings of the mega party that runs things in the US. Both wings are commanded by the same NE elites that run the banks and multinational corporations. Our Supreme Court also is dysfunctional, as it is on the take, along with the members of the House and Senate. Obama's cabinet is mostly Goldman Sach's flunkies. Everyone on Capitol Hill is owned by the Wall St banks. Do ou think re electing Obama is going to make things better? Romney? It will be business as usual whoever wins in 2012, as they are owned by the same people.