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Old 04-14-2012, 10:18 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,958,343 times
Reputation: 6381

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Egan-Jones Cuts U.S. Rating One Step to AA Citing Growing Debt - Bloomberg

Egan-Jones Ratings Co. cut the U.S. credit rating one step to AA, the second downgrade in nine months and two levels below its highest grade, with a negative outlook citing the nation’s increasing debt burden.
U.S. debt has increased to 100 percent of gross domestic product, while debt climbed 23.6 percent from 2008 to 2010, the credit-rating firm said in a statement today. Egan-Jones lowered the U.S. grade to AA+ previously in July.

Egan-Jones Ratings Company - Wikipedia, the free encyclopedia
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Old 04-14-2012, 10:47 PM
 
5,366 posts, read 5,828,061 times
Reputation: 3337
I think the primary consequence is less foreign investment, right?
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Old 04-14-2012, 10:50 PM
 
9,849 posts, read 7,779,282 times
Reputation: 3292
Another Obama Presidential first.
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Old 04-14-2012, 10:50 PM
 
Location: Houston
26,979 posts, read 14,502,454 times
Reputation: 11259
Sooner or later it will mean our government will have to pay higher interest, than we are going to be hurting. The debt issue can no longer be kicked down the road.
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Old 04-14-2012, 10:54 PM
 
Location: Stillwater, Oklahoma
28,102 posts, read 18,344,021 times
Reputation: 8676
The stock market sure cared. The DJIA went below 13,000.
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Old 04-14-2012, 11:02 PM
 
Location: Still on the southern high plains
14,954 posts, read 19,327,706 times
Reputation: 27967
Who knew? We had a lightning bolt here a few evening ago that took out the LNB on my satellite dish. It has been nice not having Fox News talking incessantly about the latest blonde woman who went missing and CNN spinning the Zimmernan/Triathalon story, or whatever his name is. I'm thinking about replacing the LNB with a TNB (total noise block.)
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Old 04-15-2012, 02:37 AM
 
3,347 posts, read 2,902,110 times
Reputation: 1719
Quote:
Originally Posted by StillwaterTownie View Post
The stock market sure cared. The DJIA went below 13,000.
The media was blaming it on lower consumer confidence and the debt in Europe though

I agree that debt is one of so many huge problems this country has now
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Old 04-15-2012, 06:52 AM
 
Location: Great State of Texas
86,068 posts, read 79,431,721 times
Reputation: 27671
The country was all up in arms with the first cut. We didn't hear the end of it from DC, each side blaming the other.

Now we get cut again and not a peep from DC.

Don't you all remember the promises made when they cut us the first time ?
None of those promises were kept.
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Old 04-15-2012, 07:07 AM
 
29,740 posts, read 37,431,804 times
Reputation: 4723
Quote:
Originally Posted by HappyTexan View Post
The country was all up in arms with the first cut. We didn't hear the end of it from DC, each side blaming the other.

Now we get cut again and not a peep from DC.

Don't you all remember the promises made when they cut us the first time ?
None of those promises were kept.
Sure there were. The Muffet Tax is going to bring in $5 billion/year in new revenues.

We're well on our way to recovery summer and paying off our $50 gazillion dollar debt.

If they start with a balanced budget yesterday we'll only need 3,200 years to pay off our national debt if everyone forgives the interest we currently owe them.

Thanks Muffet and Obambam! You're number 1 gazillion in my book!
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Old 04-15-2012, 07:16 AM
 
Location: Massachusetts
10,029 posts, read 7,845,515 times
Reputation: 4210
Quote:
Originally Posted by RCCCB View Post
Another Obama Presidential first.
Isn't this interesting? I hadn't heard about this so I googled it. 8 articles came up. Now the MSM surely can't be trying to protect Zerobama in an election year!
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