No one realized it until now but Standard & Poor’s, one of the big three credit rating agencies, is a hotbed of raaaaacism. They obviously don’t like having a black president signing treasury bonds. There is no other credible explanation for its unexpected and blatantly raaaaacist action Friday, as reported by the AP:
Credit rating agency Standard & Poor’s on Friday downgraded the United States’ credit rating for the first time in the history of the ratings.
Unprecedented!
The credit rating agency said that it is cutting the country’s top AAA rating by one notch to AA-plus … because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country’s debt situation.
A source … said that the Obama administration feels the S&P’s analysis contained “deep and fundamental flaws.”
Sure, S&P must think Bush is still president.
S&P first put the government on notice in April that a downgrade was possible unless Congress and the administration came up with a credible long-term deficit reduction plan and avoided a default on the country’s debt.
In April, Geithner said there was no chance of it happening. He must’ve meant the credible deficit reduction plan, not the downgrade.
S&P said it was now “pessimistic about the capacity of Congress and the administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government’s debt dynamics anytime soon.”
They never did this when a white guy was president, but all the black guy had to do is borrow a few trillion and send unemployment skyrocketing and those crackers jump all over him. Racists.
– Written by Bonfire of the Absurdities
Source: Associated Press
This post was last modified on January 26, 2021
View Comments (19)
Geithner said we were not at risk of being downgraded... http://www.youtube.com/watch?v=q7Z0L-NYFlE
But now it is everyone else's fault BUT Obama and his government. :-/
FAIL
This is something else Obama inherited from Bush - a AAA credit rating.
Yea and Obungles screwed that up too....He has the touch, whatever he touches he destroys.
At least he's consistent.
Al Sharpton would have thought of the racist angle but he doesn't have a clue about economics, so he missed the opportunity to make hay from this.
Don't worry, Livvy will be along any minute now, after a hard day emptying bedpans, to tell us how this is correct and share her other socio-economic insights.
John Kerry is already blaming it on the TEA Party. Damn fools won't let 'em raise taxes on the filthy rich who don't pay their fair share!
Erm isn't this the same fool that hides his boat from the Fed in order to not pay taxes on it? :-/
This could be a blessing in disguise if it gets obama dumped.
Maybe we can get some RINOs dumped too.
AMEN to that! I'd love to see RINOs become an endangered species in 2012.
With their borrow and spend policies, the rinocrats have not just pulled the plug on the economy, they've used it as collateral to borrow more money to pour down the drain.
Curly would HAVE to be Slow Joe Biden.
RTS
Then Shemp would be the Bernank.
Yeah, Curly was a lot funnier than Shemp.
I blame BOTH sides for the rating slide. We had a chance to truly change things, and we said instead," give the alcoholic at the bar more credit for more drinks". We solved NOTHING. But as I said before, people will not blame congress for this, the president in power is going to get ALL the blame. Its going to cost him the election next year.
This itself makes it all worthwhile. We can repair a credit rating, but we cannot do it while shoveling money into a furnace.
George W. Bush has to share some of the blame. He and the Republicans ran things for a while and they piled on the spending trying to curry favor in that Big Tent they kept yapping about. I'm so damn glad the Tea Party came along and started to put the brakes on. Now if we can only pry the Democrat's foot from the effing gas pedal.
"We're Not Even Halfway There Yet" BHO. Old Bumbles has only begun to downgrade our credit.
Not mine ,but worth repeating.--- There "WAS" something the left inherited from the previous administration , A-- Triple AAA bond rating. Good job by turbo Timmy and all the others involved . To quote the Prez. - " This is the greatest nation in the world and I'm going to change it."