Obama was not in office in 2008 so the first rating drop is not his fault. This one however is, as it reflects that his policies, and that of congress (which includes Republicans), have not done enough to curb economic decline.
The stimulus package was suppose to prevent unemployment from reaching 8%; it has been higher than that for 40 straight months. People are being hired, but not at a rate to officially call it a recovery.
Obama walked into a bad situation when he came in office and IMO has been a disappointment economically to date. He did not start the fire but he has done nothing but toss more lighter fluid on it.
US credit rating slashed....again.
Re: US credit rating slashed....again.
by Ben Huh » Fri Sep 14, 2012 4:29 pm
..."if the only thing keeping a person decent is the expectation of a divine reward, then brother, that person is a piece of shit."
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Re: US credit rating slashed....again.
by Ben Huh » Fri Sep 14, 2012 5:55 pm
..."if the only thing keeping a person decent is the expectation of a divine reward, then brother, that person is a piece of shit."
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Re: US credit rating slashed....again.
by Mr.Bill » Fri Sep 14, 2012 6:01 pm
Your political leaning is 'slightly liberal'???
Sorry, I got offtrack.. Anyway as fstarcstar mentioned the credit drop last year was due to the debt ceiling talks, not 2008... Those talks last year were a disaster and even a blind man could see that nothing was going to get done. So to try and 'scare' Congress and the president they lowered the rating.. A useless exercise, but that's what they did..
Sorry, I got offtrack.. Anyway as fstarcstar mentioned the credit drop last year was due to the debt ceiling talks, not 2008... Those talks last year were a disaster and even a blind man could see that nothing was going to get done. So to try and 'scare' Congress and the president they lowered the rating.. A useless exercise, but that's what they did..
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Re: US credit rating slashed....again.
by Ben Huh » Fri Sep 14, 2012 6:20 pm
..."if the only thing keeping a person decent is the expectation of a divine reward, then brother, that person is a piece of shit."
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Ben Huh - Senator
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Re: US credit rating slashed....again.
by Davethulhu » Fri Sep 14, 2012 7:58 pm
Who the hell is Egan-Jones?
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Re: US credit rating slashed....again.
by Davethulhu » Fri Sep 14, 2012 7:59 pm
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Re: US credit rating slashed....again.
by spacemonkey » Fri Sep 14, 2012 9:08 pm
The debt has become so absured, a good or poor credit rating is probably pretty much irrelevant at this point in time. Our denial about possibly being bankrupt is not going to change the fact we're possibly bankrupt.
The hardest part of doing nothing is knowing when your done.
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