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| The other shoe drops: Byebye American AAA (822913) | |||
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The other shoe drops: Byebye American AAA |
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Posted by SelkirkTMO on Fri Aug 5 18:28:40 2011 Hot off the wires ... Standard & Poors is dropping America from its AAA status to lower. HOPE is that it will only be to AA, but until they announce later tonight, it's possible that it might go even lower.Hope you republicans are happy with what you've done ... "Officials reasons given will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited." The only good news is that substantially higher interest rates on the middle class will give us a higher rate of return on our money. Great job, republicans! |
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