US loses AAA credit rating

Standard & Poor's said U.S. Treasury debt no longer deserved to be considered among the safest investments in the world.

S&P removed the triple-A rating the U.S. has held for 70 years, saying the budget deal recently brokered in Washington didn't do enough to address the gloomy long-term picture for America's finances.

The U.S. AA+, is a score that ranks below Liechtenstein and more than 12 other countries.

It is clear why President Obama wanted a big deal. He mentioned the AAA credit rating on many occasions. As usual the myopic GOP blinded by ideology was unable to see the forest through the trees. The GOP made the deficit an unprecedented political issue for all of the world to see.

http://online.wsj.com/article/SB10001424053111903366504576490841235575386.html

Subscribe to the Rightardia feed: http://feeds.feedburner.com/blogspot/UFPYA  
Netcraft rank: 6627 http://toolbar.netcraft.com/site_report?url=http://rightardia.blogspot.com


Rightardia by Rightard Whitey of Rightardia is licensed under a Creative Commons Attribution 3.0 Unported License.

Permissions beyond the scope of this license may be available at rightardia@gmail.com.