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S&P Downgrades US Credit Rating

Discussion in 'Politics' started by jacom4615, Aug 5, 2011.

  1. jacom4615

    jacom4615 Monkey+

  2. ghrit

    ghrit Ambulatory anachronism Administrator Founding Member

    Basically, all that does is (potentially) increase the discount rate the fed charges for buying bonds issued by the Treasury. Meaning the price of borrowing will go up, thus increasing the cost to us for the overspending.
  3. Seawolf1090

    Seawolf1090 Adventure Riding Monkey Founding Member

    The Misadministration was warned of this...... So S&P had to 'spank the monkey'...... Maybe the DC Moronic Elite will listen next time, but hey, it's not like it's THEIR money....... :rolleyes:
  4. Tikka

    Tikka Monkey+++

    "They" are addicted to compromise and spending; a fantasy world where they fake a crisis, offer spending cuts over twenty years and borrow a huge amount immediately.

    What they have ignored is the majority who is tired of more of the same.
  5. Bumbury

    Bumbury Monkey+

    yep here it comes double dip recession and hyper inflation
  6. Falcon15

    Falcon15 Falco Peregrinus

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