All Hail the credit rating agencies. Standards & Poor's just gave the good ole' USA a negative credit rating outlook, with a scolding on what we should do as a nation:
Standard & Poor’s put the U.S. government on notice that it risks losing its AAA credit rating unless policy makers agree on a plan by 2013 to reduce budget deficits and the national debt.
“If an agreement is not reached and meaningful implementation does not begin by then, this would in our view render the U.S. fiscal profile meaningfully weaker than that of peer ‘AAA’ sovereigns,” New York-based S&P said today in a report that maintained its top rating on U.S. long-term debt while lowering the outlook to “negative” for the first time.
S&P is giving the U.S. a 33% chance of losing it's AAA credit rating.
This is how the game is played to force a nation into austerity. The agenda is to destroy what is left of the working people and middle classes by dismantling what is left of social safety nets, under the claim of too much debt. In other words, it seems S&P is in on the game to make sure Americans have no Medicare, Medicaid and Social Security.
Indeed, it seems Republicans are jumping on this like flies on .....well, you know. All to destroy what is left of America's social safety nets.
Shock of all shocks, Obama's chief economics guy, Austan Goolsbee, is calling cash on S&P and implying this is political:
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