S&P Executive Says 1 In 3 Chance U.S. Could Be Downgraded Even Further…
Disaster.
WASHINGTON (AP) — A Standard & Poor’s official says there is a 1 in 3 chance that the U.S. credit rating could be downgraded another notch if conditions erode over the next six to 24 months.
The credit rating agency’s managing director, John Chambers, tells ABC’s “This Week” that if the fiscal position of the U.S. deteriorates further, or if political gridlock tightens even more, a further downgrade is possible.
Chambers also said Sunday that it would take “stabilization and eventual decline” of the federal debt as a share of the economy as well as more consensus in Washington for the U.S. to win back a top rating.
Posted by ZIP on Sunday, August 7, 2011, at 12:05 pm | 
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We’d better prepare for the worst, you know how Barry is!
This reeks of Soros induced crisis to take the markets down again for a good buying opportunity. WTF is it with S & P anyway?
“Stabalization and eventual decline of the federal debt”
And guess which word out of that sentence the Dems will actually hear: “eventual”.
And stabalization will become the watchword for…..no sudden changes.
And political gridlock will become: No more Tea Party hostage taking, we must compromise. Which means, we are going to go on spending and blame the Republicans for lack of revenue.
And this is the fight which will be ongoing until 2013.
Was it the dastardly Tea Party, with its demands for fiscal sanity and a solution to an oncoming tsunami of entitlement liabilities? According to the man who rates sovereign debt for the agency that downgraded the US
http://hotair.com/archives/2011/08/07/sp-bond-rater-its-the-debt-stupid/
–”Republicans cut the only deal they could get without control of the Senate and the White House. Had they refused to take that deal, then S&P and likely Moody’s would have lowered the rating on Wednesday, and Republicans would be taking the blame. Instead, this clearly shows that Democratic refusals to deal rationally with the entitlement crises are the reason for the decline in confidence in the US.”–
kansas-you are right-he is sitting there like a vulture. Why he is allowed in this Country is beyond me. The Communist left has spent us into oblivion.
Nancy Pelosi riding her broom is missing in that twister hanging over the Capitol building.
This comes as no surprise to me. In fact I would question why it didn’t come a lot sooner. This country has been spending like a bawdy house full of drunken sailors since the early 1990′s.
But the populace is fickle in that the tea party was voted in because the public believed that the country was going down the wrong path in 2010 and yet when real change is attempted, polls now show the tea party principle as losing favor due to percieved “grid lock.”
So, the decline of America continues…
It is a fact that if the “TEA party” actually got what they wanted we would not have been downgraded!
Hey China, guess what ? Doesn’t look like we’re good for any more loans or you’re going to get your money back. Guess you’ll have to come and take it.
Good luck with that.
@ Katherine
I’d agree but I’m sure the Dem. talking point will be
“to get to the stabilization the S&P requires we will need increased revenue streams” (New & or Increased Taxes)
Looks like Obama’s 6 year bachelor degree hasn’t done him much good.
Hmmm….Ill bet a $100 on the 1
this is just sickening and the fact that our soldiers were killed a few days ago and our credit downgraded and the man-child-in-chief is golfing turns my stomach. clueless, amateur, childish narcissist that he is has no idea what he is doing. and if he does, and all of this is intentional, heaven help us all.
Actually it will be a disaster when S&P downgrades another notch… and then Moody’s, Fitch downgrades one notch.
and its going to happen, does anyone really think anythign meaningful is going to come out of the “super” committee, I’ve resigned to the fact that socialist spend n tax liberal/kensiyans will only be made into the minority way of thinking when the keep their BS ranting to the point where no one will believe them anymore, and sadly, we are a long way from that.
I say, let it rip, those who know whats going on, take care of your family, friends, neighbors, elderly, the rest of the ignorant fools will only learn when its too late and we lose even more productive capacity. People are going to go John-gault and completely stop producing, and the moochers will keep mooching and mooching until a good many of them fianlly realise they’ve been listening to idiots like Krugman and Friedman.
Most if not all of the top executives at Standard & Poors are big contributors to Sultan Barack Hussein bin Obama and his fellow commiecrats. So forgive me if the bullshit detector pegs to the right when they keep citing “political gridlock” as one reason for this and future downgrades. S&P is too close for comfort with the commiecrats and the suspicion is that this is just another way to get the Republicans to bent over once again and give up their conservative principals.
The cannot by any doubt that the debt is a disaster and threatens our very existence but S&P was also one of the prime enablers of the mortgage meltdown with their bullshit ratings in which they made a ton of money. So their credibility is suspect.
There is no political gridlock but instead there is a civil a war being waged for this Republic’s continued existence. On one side are the commiecrats and Sultan Barack Hussein bin Obama and on the other are the true conservative patriots who are fighting to save the nation. Anyone or any company who contributes money to the commiecrats and their Sultan must be viewed as an enemy unless proven otherwise.
and what does Messaih Barry do?
the assshole plays golf….
http://www.dallasblog.com/201108051008311/dallas-blog/amidst-obama-depression-president-plays-golf.html
Hey Grumpyone: those drunken sailors are spending their own money unlie the the thieves in DC
@CapnAngus
You’re right..
My brain isn’t functioning today. Been up since 2:00AM. My 5 month old son is teething…..and he’s not happy about it.
A preview of things to come:
The ‘rats: Tax the rich or the DOD gets it.
Dear Leader will still say it’s Bush’s fault….anyone but him.
The usual tripe no one is buying anymore.
Barry’s and George’s plan is playing out perfectly………….
Sorry to hear about your lack of sleep. But a little one teething is soooo much of a better reason for lack of sleep than a bout of stress induced insomnia.
These days a blessings in disguise.
The S&P statement was disturbing on several levels. It seem to imply that the GOP was more culpable than the Democrats. Even though the entire mess was caused by wild Democratic spending . So is S&P saying we should raise taxes? Knowing that will cause more layoffs and then more spending? The whole exercise seems disingenuous. As if they had all ready determined that a grade reduction was in order and then sent a babbling fool out, who happens to be a English major, to justify it.
Standard and Poor’s is a huge contributor to the Democratic Party’
http://influenceexplorer.com/organization/standard-poors/69ef116db51541288f82666a423a5fe5
It was instrumental in up grading bundled C paper into AA+ instruments against all reason. It failed to down grade Fannie, Freddie, and AIG in spite of incredibly obvious weaknesses.
It is right up there with Goldman Sachs and GE in the crony capitalist ranks. Corrupt and biased. Elite liberals run the company. And they find the Democratic Party far easier to corrupt than the GOP.
Just what the UN,CFR and BIG BROTHER wants