Saturday, August 6, 2011

Another Historic First for Obama, S&P downgrades U.S. Credit Rating

A credit downgrade for the first time in American history! How’s that Hope and Change working out for you?

Standard & Poor’s announced Friday night that it has downgraded the U.S. sterling credit rating for the first time…S&P decided to lower the AAA rating, held by the United States for 70 years, to AA+ after a bipartisan debt deal signed into law this week failed to assuage concerns about the nation’s growing spending.

Frankly, the country deserves a little better than merely “historic”.