The Progressives were claiming that unless we raised the debt ceiling, That US credit rating would be downgraded. Well it’s happening anyway!
Two government officials tell ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.
Official reasons given, one official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited. The official was unsure if the bond rating would be AA+ or AA.
Wow they will try to blame the GOP for S&P’s downgrade. The Obama Regime is the reason we are getting downgraded.
(Hat Tip: Lobo91)
Tags: Standards and Poors, The Obama Boom, The Obama Depression
