Mustang
Gold Member
I won't go into the long history. Just recent history.
Conservatives were warned. But did they listen? Do they ever listen?
No, THEY knew best. They just HAD to take the whole debt ceiling vote right to the brink, didn't they?
If this credit downgrade happens, It will be interesting to see how both the public and the GOP reacts to the news.
Conservatives were warned. But did they listen? Do they ever listen?
No, THEY knew best. They just HAD to take the whole debt ceiling vote right to the brink, didn't they?
If this credit downgrade happens, It will be interesting to see how both the public and the GOP reacts to the news.
Govt officials: US expecting S&P downgrade
A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poors to downgrade the rating of US debt from its current AAA value.
Official reasons given, he official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.
The official was unsure if the bond rating would be AA+ or AA.
Another government official confirms the Obama administration is preparing for the downgrade but is not 100% positive its going to happen, and if it does happen officials are not sure when it will happen.
http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html