Despite all the best efforts made by the cuntrags in the House and the Senate, the United States suffered the first credit downgrade in its long storied history, moving the superpower from an AAA rating to a paltry AA+.
The move comes days after the United States Congress and our fearless president got what they wanted by telling us that without a raise in our debt ceiling by trillions (through the 2012 election, leaving me to believe that perhaps Obama might not want this to be something we the People start asking him about), our nation would default, our credit rating would be downgraded, and the world would stop spinning.
And yet here we are… 2 trillion plus deeper in debt than we were at this time last week and our credit rating is lower, Wall Street is crashing, and or money seems to be worth less and less every day.
Something tells me this is not the Change we were all signing on to when we voted for Barry three years ago.
According to the Associated Press:
Credit rating agency Standard & Poor's on Friday downgraded the nation's rating for the first time since the U.S. won the top ranking in 1917. The move came after Congress haggled over budget cuts and the nation's borrowing limit – and failed to cut enough government spending to satisfy S&P. The issue has contributed to convulsions in financial markets.
The drop in the rating by one notch to AA-plus was expected. The three main credit agencies, which also include Moody's Investor Service and Fitch, had warned during the budget fight that if Congress did not cut spending far enough, the country faced a downgrade. S&P said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation. Moody's said Friday it was keeping its AAA rating on the nation's debt, but that it might still lower it.
The End of the World stinks…
All kidding aside, this is not a good thing.
Do you realize what has happened here?
Not just the credit downgrade… but this whole debt limit debate these pack of jackals have spent the past month or so engaged in among themselves.
We didn’t get our credit rating downgraded because our country was doing too good or because our congress was working too responsibly…
We got it downgraded because these motherfuckers have spent us to the poorhouse.
We (as a nation) have been borrowing more a year than we (as a nation) take in in a year, by damn near 100%.
And it does not take a genius to figure out that this is not the best way to run a country.
Hell, it’s a pretty shitty way to run a crack peddling outfit.
I don’t think it is a question anymore as to whether or not we need to get a hold of Medicare, Social Security, and Medicaid (an unfinanced liability said by many experts to eventually cost the United States an unfathomable $60-80 TRILLION) expenses any more than it is to question the fiscal unsustainability of two plus (as Obama has us entangled in Libya and who knows where else) foreign wars and such generous tax rates upon those wealthiest (though there is something to be said about perhaps moving to a less complex, more “fair” and efficient system of levying taxes like a flat tax or a national sales tax).
And yet these sons of bitches spent the past fucking month either telling us about how the world was going to end if the Government could not find its way to borrowing another two trillion dollars, as opposed to figuring out a way to cutting out things we all know could be cut tomorrow out of the budget in order to make a little breathing room for us to try and operate under.
And this raise is just for another year. This time next year, be it before or after the elections, Obama and this Congress is going to engage in this dog and pony show again, complete with the pomp and circumstance expected to be seen in such a debate.
And again the Democrats will cry about cuts to their base of their budgetary increases (something I learned about this week. It seems that when the Government [and I don’t want to hear shit coming from you right wing assholes… your guys are just as guilty of this shit as the more liberal representatives] tells us rubes that it is going to “cut the size of it” what they really do is cut down by a few points of a percentage from the 5-7% across the board increase every single Government department is slated to get every year. And not just as a forever cut… but rather they will do so over the course of a decade, making the cuts on a year to year basis a fraction of what we think they are when they are being announced to us) and the Republicans will tell us how they did a good job by making some “deep” cuts (again, on paper). And the President (don’t matter which party… in 2006, the great fiscal conservative Bush went before to congress to beg for a raise in the debt ceiling… a move then senator Obama called a signal of an absence of leadership) will sit on the sidelines playing daddy for the camera.
And this will all be done for our benefit… so that we may sleep well at night knowing someone is operating with our best interests at heart.
Hope we all appreciate it.