Sunday, August 07, 2011

Great News: It Could Take 18 Years to Restore Credit Rating

It appears Obama's legacy of disaster could haunt us for decades.
John Chambers, the chairman of Standard & Poor’s sovereign debt ratings, on Sunday estimated that it could take between 9 and 18 years for the nation to regain its AAA credit rating.

Chambers said the credit agency could further downgrade the national rating depending on whether President Obama and congressional leaders can agree on reducing the deficit.
Things could actually get worse.
He put the chances of another drop in credit rating at one in three.

Chambers said if the nation’s fiscal scenario worsens or political gridlock becomes more entrenched, “that could lead to a downgrade.”

Chambers said “it could take a while” for the U.S. to regain its perfect credit rating.
Meanwhile, Obama's base supporters angrily lash out.
“It’s hard to see how we avoid a Tea-Party recession if the president who has the biggest megaphone in the country is not willing to speak clearly on the issue,” Justin Ruben, executive director of, told The Hill in a Saturday afternoon interview.
Tea Party recession? Really?


rich b said...

Once again a hale and hearty FUCK YOU to the progressives and left-wing halfwits who put this douchebag and snake oil salesman (Ovomit) in office. I won't even start on the trash in congress.

drfredc said...

Congress ought to authorize printing of the Obama Dollar, it will be about half the size of dollars of the past....  The back side will have our glorious leader teeing off from right. over his teleprompter, to to a green on far left.