Friday, August 5, 2011

"S&P warned White House of imminent downgrade - source"

"Credit rating agency Standard & Poor's
served the Obama administration with notice Friday afternoon
that it planned to downgrade the U.S. government's AAA credit rating,
an administration official told CNN.

Why would who pre-present a secret downgrade notice?

If the downgrade that was supposed to be secret isn't,
did the downgrade already theoretically happen?

But S&P has yet to make its ruling public,
and the source told CNN that the agency is reconsidering
after the administration challenged S&P's analysis of the government's finances.

How could it be even remotely possible
to not have your facts strait before downgrading
the most powerfull empire in the history of the world?

The source, a senior official involved in the discussions,
said the agency was off by "trillions" in its economic model
and was now working to revise its analysis.

With GDP growth of about 5%
when it's looking like less than 2%?

The official described the talks as a "moving target"
and said "it's clear some people there still want to go forward"
and downgrade U.S. debt.

So S&P says yes,
Obama says no,
and now someone has to man up?

...the two other major rating agencies have both said
the deficit reduction actions taken by Congress were a step in the right direction.


On Tuesday, Moody's said the United States will keep its sterling AAA credit rating,
but lowered its outlook on U.S. debt to "negative."

CNN Money

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