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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (92683)	4/18/2011 11:26:43 PM
From: tejek	Read Replies (1) \| Respond to of 149317

Two things.....this announcement today was not a surprise.......Wall Street has been anticipating it for months now. Once again, the media is making it bigger than it is. And that's why the markets were not down a lot today and that the decline was relatively orderly. In fact, my portfolios did quite well...considering. Secondly, S&P did not change the US's rating......its still triple A. They simply changed their short term outlook. I suspect they are doing everything they can to effect Congress's doings over the next year. And how much do you want to bet that the S&P is run by wingers? When Geithner confidently said that the debt limit would be raised, he knew something then. It looks like the Republicans would now come under pressure to quit linking social issues like birth control NPR funding and Medicare as spending reduction issues. This downgrade was not an issue when Obamacare was passed. But it now raises a red flag because of the unstable political situation in the US, something that no capitalist in the world could ever dream of. Notice also how the credit agency is confident that the debt will be ultimately retired by the US similar to what Clinton did after Reagan and Bush rann the Treasury to the ground.