US loses AAA credit rating from S&P for the first time in history

[Jenna]

Credit rating agency Standard & Poor's says it has downgraded the United States' credit rating for the first time in the history of the ratings.
The credit rating agency says that it is cutting the country's top AAA rating by one notch to AA-plus. The credit agency said late Friday that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation.

More here: http://www.cbsnews.com/stories/2011/...20088944.shtml

[Xiphos]

Duh.

Nothing that was done this week was anything for fixing the problem and just more of the same.

[Jks9199]

Great...

Think this'll get Congress to come back from vacation? Y'know... 'cause they STILL don't have a friggin' budget passed. And they just addressed the FAA funding, for a couple more weeks.

But they're on vacation. They ain't missed a paycheck. Unlike the folks at FAA who've missed 2 weeks of paychecks.

Here's a friggin' idea. Congress passes up its paychecks until they pass a budget for the current fiscal year.

[mfranklin01]

gosh I didn't see this coming ...I'm already prepping myself for what the Dems are gonna say during election time. "we've only had four years to fix eight years worth of problems but we're on the right path" some how this is still going to be Bush's fault in the next election

[pgg]

This is what years of fiscal mismanagement has brought us. It's not only the Dems. It's the liberals from both sides if the aisle.

[Five-0]

So, harder to borrow money now.......GOOD!!!!!!

[countybear]

"... but, but... we're the State! The State can do no wrong!!"

[BigDawg]

This is going to become another case of one side blaming the other and neither accepting any blame what so ever. Im so sick of the BS on both sides of the isle it makes me sick. Congress has become so powerful that its no longer; "By the people, for the people", its more of by Congress, for the special interest. I could go on, but why bother? In my opinion we need a new party that is actually interested in doing what is best for ALL the people, not just the poor or the rich. (and I dont mean the tea party because they arent any better)

[Five-0]

(and I dont mean the tea party because they arent any better)

How are they not better? Cut, Cap, and Balance had the support of the Tea Party. The guy with S&P on Cavuto just a few minutes ago said if the Paul Ryan budget had been adopted the U.S. would have kept the AAA rating. Spending is the problem and the Tea Party is called extreamist terrorist because of the amount of spending cuts they have proposed.

[jmur5074]

I'm sure Obama will fix it.

[Xiphos]

I'm sure Obama will fix it.

Hope & Change.

[irishmick]

What annoys me is that, yeah, they'll blame Bush. But, what some people either don't realize or care about is the fact that Congress is responsible for passing budgets/spending. Based on that, Bush was stuck with a liberal/Democratic Congress who was doing all the spending and budgeting for most of his term. These are things that Obama sat there and passed as well. So, if he wants to blame it on anyone, he should take a look at his part in it as well.

[Captain America]

What annoys me is that, yeah, they'll blame Bush. But, what some people either don't realize or care about is the fact that Congress is responsible for passing budgets/spending. Based on that, Bush was stuck with a liberal/Democratic Congress who was doing all the spending and budgeting for most of his term. These are things that Obama sat there and passed as well. So, if he wants to blame it on anyone, he should take a look at his part in it as well.

He won't.