S&P downgrades US credit rating.

[pghin08]

http://money.cnn.com/2011/08/05/news...=BN1&hpt=hp_t1

I'm preparing myself to get a deluge of e-mail from my clients.

[tutall]

dear god... Monday should be fun... Glad I am not working tomorrow

[pghin08]

dear god... Monday should be fun... Glad I am not working tomorrow

Same here. I'm sure Moody's will follow suit. I'm not that surprised, I thought all the posturing from our politicians would bring this on.

[OnePimpTiger]

A Treasury Department spokesman pushed back on the rating change, saying that S&P's analysis was flawed.

A source familiar with the matter said S&P initially miscalculated the growth trajectory of the nation's debt, and then went ahead with its downgrade anyway.

The source also said S&P didn't give enough credit for the debt-ceiling compromise, which paved the way for more than $2 trillion in spending cuts over the next 10 years.

How can you possibly argue against the downgrade? Here's the S&P rating system:

‘AAA’—Extremely strong capacity to meet financial commitments. Highest Rating.
‘AA’—Very strong capacity to meet financial commitments.
‘A’—Strong capacity to meet financial commitments, but somewhat susceptible to adverse economic conditions and changes in circumstances.
‘BBB’—Adequate capacity to meet financial commitments, but more subject to adverse economic conditions.
‘BBB-‘—Considered lowest investment grade by market participants.
‘BB+’—Considered highest speculative grade by market participants.
‘BB’—Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions.
‘B’—More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments.
‘CCC’—Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments.
‘CC’—Currently highly vulnerable.
‘C’—Currently highly vulnerable obligations and other defined circumstances.
‘D’—Payment default on financial commitments.

Note: Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.

We were downgraded to AA+, the second highest rating. There has been talk of possible default, which would fall under a D rating. That aside, how could an organization with $14+ trillion debt be considered one of the safest financially in the world? The only thing keeping us from BBB or lower is reputation and standing within the global community.

[duane1969]

‘CCC’—Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments.

Right there would be an accurate credit rating.

[theonedru]

14 trillion in debt and only downgraded to a AA+, man why even bother with the downgrade if your just going to lie about it, We all know the USA is more deserving of a CCC- with a soon downgrade of D. If the USA cannot pay the interests on the loans then it certainly cannot pay upon the principal. Also apparently if you read the debt agreement there are no real cuts anywhere its just a bunch of lies and deceit put out to fool the average American.

[sanfran22]

Yeah, they're only gonna spend like 45 tril instead of 48. Awesome......

[tutall]

How can you possibly argue against the downgrade? Here's the S&P rating system:



We were downgraded to AA+, the second highest rating. There has been talk of possible default, which would fall under a D rating. That aside, how could an organization with $14+ trillion debt be considered one of the safest financially in the world? The only thing keeping us from BBB or lower is reputation and standing within the global community.

This is whymany people feel this was only a threat to the US and not anything real.... If they really graded it where it deserved it would be quite a bit lower but most people who know these things are saying it is merely a warning to the US to get their things in order.

[INTIMADATOR2007]

It would help alot to have People in control of our country that has a tad little bit of experience as to what they are doing . But instead we have a bunch of Idiots that have never employed one person or has ever met a payroll or ran a gosh darn lemond aide stand . Why should we expect them to handle the countries monetary obligations in a respectful matter . The cost of all there programs and spending they have leveed on this country will absolutley bankrupt this country . How do they expect us to spend upwards of 40 trillion dollars in the future when we can't pay our bills now .

PS
Please vote republican in 2012 .. paid for by intimadator2007 :)

[tutall]

It would help alot to have People in control of our country that has a tad little bit of experience as to what they are doing . But instead we have a bunch of Idiots that have never employed one person or has ever met a payroll or ran a gosh darn lemond aide stand . Why should we expect them to handle the countries monetary obligations in a respectful matter . The cost of all there programs and spending they have leveed on this country will absolutley bankrupt this country . How do they expect us to spend upwards of 40 trillion dollars in the future when we can't pay our bills now .

PS
Please vote True Conservative in 2012 .. paid for by intimadator2007 :)

There.... fixed it for you