http://finance.yahoo.com/news/SP ... 1344749763.html?x=0


Someone should downgrade S& for downgrading the US and Frannie Mae!  

Seemed like poor timing and a dumb move on S&P's part.  And they made a whopping $2trillion error in their calculations no less.

I disagree ...

after the embarrassment of the 2008 crisis, when none of the rating agencies or regulatory bodies called foul until after the melt-down, they must be very careful about how long they can go on saying everything's fine as it is.  First rule in sound fiscal management, and in accounting, is to be conservative.  

Look at the way the FAA budget was completely overlooked by the brawling over the borrowing limit - a clear sign that self-interest is replacing reason.  As anoutsider, US looks more and more like a train wreck that's unravelling in slooooowwwwww motion.  'scuse the mixed metaphor

Honestly, how long can USA avoid the same criticism that's being levelled against Greece / Spain / Italy / Portugal and more to come?  There has to be a correction, and delaying it makes it bigger.

Standard & Poor

An agency of Poor Standard
New Standards of the Poor
Standard Poverty
Poverty of Standards
My poor ratings in Sex141 are handled by the Poors department of S&P

Sure, conservative is good (outside of a HG session of course ) but S& has now rated Spain and the U.S. both AA.  'Splain me that Lucy.

Ray Steven's Obama Budget Plan - yup!!

http://www.youtube.com/watch_popup?v=J6TcpfBHlbs
SEAJ

Not correct

Spain has gone down from AA+ to AA
USA is on AA+

Honestly:
as an employer I have an obligation to pay my staff, I pay them in arrears and accrue the debt through each month.  
at the end of each month, when I pay the wages I owe, I ALREADY owe my staff another full month of pay, plus any long-service termination penalites that may apply.  
I go to great trouble during each month to make sure I have enough cash to make payroll, and have never missed.  It's not easy and sometimes requires creativity and sacrifice on my part.  

For the authorities in USA to bicker and bitch about raising the debt ceiling, and then go on holiday without handling the FAA funding bill, is utterly irresponsible.  Watching it makes me sick ... how dare they talk continuously about fiscal responsibility for three months, and then send loyal employees home without a job or a pay check, just because they can't come to an agreement?  

Seriously, the US deserves it's downgrade.  Not just because it's borrowing beyond its means, but - more importantly - because the decision-making team are showing an inability to make decisions.  

And if they don't start to sort things out, reducing the debt and passing necessary legislation in a timely and orderly fashion, I hope they get more downgrades ...

... and yes, of course, the rating agencies should be giving the same fair and balanced treatment to other governments that are also spending beyond their means or in a state of disarray.

the strange part is, the biggest debt owner of U.S., china and japan, their rating are only AA-, lower than U.S even after downgrade

I just read that Australia found itself in the same position something like 10-15 yrs ago. Both Moodys and S&P downgraded them.
It forced them to get their act together. So, now their debt is a mere 11% of GDP. Canada's is 36%. and USA is something like 85% or something.

The ratings are for what they are for. They simply need to be the truth.
They are NOT political tools for the government to use to make the public feel good.

The ratings agencies are already giving the USA  plenty of leeway and probably for many years. Who else just gets to raise their debt ceiling every time they have money problems!?!?

In the last 10 years, Australia has had a budget surplus for every year but one.
Let's hope the USA can do the same with a bit of time. The USA going down doesn't benefit ANYBODY, including china!