Black People : U.S. Credit Rating Is Downgraded to AA+ from AAA

I found this article interesting (link below) as President Obama gives a comparison of AA rating countries versus AAA, not a huge difference.
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A downgrade in America's credit rating is now a distinct possibility. That's true even if politicians in Washington reach a deal to raise the nation's debt limit while curbing federal deficits.

Credit-rating firms are focusing not just on whether a deal gets done, but also on the uncertain outlook for the nation's future fiscal health. The debt plans currently under consideration don't rise to the level of the "grand bargain" needed to stabilize the national debt at an economically safe level.
But even if a rating downgrade occurs, that doesn't automatically mean financial catastrophe.
Consider the contrast between nations that have the strongest rating ("AAA") from Standard & Poor's and nation's that are one notch down, at AA. Often it's hard to tell, from their interest rates, which is which.

http://www.csmonitor.com/Business/2...edit-rating-drops-Other-countries-offer-clues.
 
I found this article interesting (link below) as President Obama gives a comparison of AA rating countries versus AAA, not a huge difference.
________________________________________________________________________
A downgrade in America's credit rating is now a distinct possibility. That's true even if politicians in Washington reach a deal to raise the nation's debt limit while curbing federal deficits.

Credit-rating firms are focusing not just on whether a deal gets done, but also on the uncertain outlook for the nation's future fiscal health. The debt plans currently under consideration don't rise to the level of the "grand bargain" needed to stabilize the national debt at an economically safe level.
But even if a rating downgrade occurs, that doesn't automatically mean financial catastrophe.
Consider the contrast between nations that have the strongest rating ("AAA") from Standard & Poor's and nation's that are one notch down, at AA. Often it's hard to tell, from their interest rates, which is which.

http://www.csmonitor.com/Business/2...edit-rating-drops-Other-countries-offer-clues.

This is purely political. S&P knows the ramification of what it did. I was surprised that they were allowed to stay a rating agency after it came out that they received money from companies' securities they were rating. That's obviously a conflict of interest.

Politically, this was done to put a negative mark on Mr. Obama's presidency. First, he couldn't lead. And now he can't manage. I'm waiting to see what happens to the stock market on Monday and how President Obama and his administration responds to this.

Peace
 

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