Friday night, 8/05/11, Standard & Poor’s downgraded the debt rating of the U.S. from AAA to AA+ and said the outlook was negative. Which shows the fact that political in-fighting and not confronting the real issues facing the U.S. economy are in trouble.
Statement from S&P: “The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics,” S&P said. “More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.”
RBR-TVBR observation: July 23, 2011 RBR-TVBR reported the latest research on how American’s see the real issue which President Obama and Congress not confronting the real issues facing the U.S. and all American’s and it holds true with the Friday’s downgrade.
Way to go to all the politicians starting at the top down – you have now put additional stress on all American’s. RBR-TVBR stands by our July 23rd observation: “Let’s face it – every American has been suffering since Obama has taken office – any person with common sense knows it – sees it – and feels it” See the research:
5,000+ Voters speak on debt crisis: Obama doesn’t get it (July 23rd report)
Politicians bashing but 71% of Americans want spending cuts
The White House can not blame anyone but themselves – the downgrade happened on Obama’s watch.