Washington – Credit rating agency Standard & Poor’s says it will not downgrade the U.S. government’s credit rating because a Congressional committee failed to come up with a plan to trim deficits by at least $1.2 trillion over the next decade.
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S&P in August cut its rating of long-term U.S. Treasury securities by one notch from AAA to AA+, the first such downgrade of U.S. government debt in history.
In a brief statement Monday, S&P said it did not plan a further downgrade of the rating based on the supercommittee’s failure to agree on a plan. But S&P warned that its present rating is based on the expectation that automatic cuts will take effect in January 2013. Some Republicans are vowing to block the defense spending cuts.
Who cares what these people think anyway?!?! It’s amatuer hour over at Standard & Poor’s as far as I’m concerned!
They completely MISSED the housing & financial crisis… and didn’t downgrade us AT ALL, back when American business men were pulling shady financial dealings & everyone was so corrupt…
But because they saw a debate over the Debt Ceiling limit not go well… they decided to mark us down for THAT?!?! What is going on over there?!
Don’t get me wrong… the Debt Ceiling fight was a huge debacle, and a total international embarrassment. Make no mistake about it. And the current fight over the budget & the Super Committee going bust, doesn’t help matters. Its obvious our system is quite broken.
But Standard & Poor’s lost all credibility when they ignored or missed the housing & financial bubbles! That’s their JOB to scope things like that out! How we do business here is what they are supposed to be rating us on!
So who cares what they think now?! Like I said… it’s amatuer hour over at that place!