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August 05, 2011

Unprecedented: S&P Downgrades US Debt to AA+

They pulled the trigger. We're officially no longer prime investment grade.

There has been some argument about the numbers here. The administration claimed there was a $2 trillion error (against the US's favor) in S&P's calculations, and the administration challenged that error.

Honestly, I thought that was probably bullshit and said so on Twitter: I happen to know the Obama Administration is fond of double-counting and faked numbers, so why should I give their claims credence?

Not sure how all of that worked out, but S&P ultimately rejected the argument.

Unprecedented: S&P Downgrades US Debt to AA+&bodytext=They pulled the trigger. We're officially no longer prime investment grade. There has been some argument about the numbers here. The administration claimed there was a $2 trillion error (against the US's favor) in S&P's calculations, and the administration challenged...&topic=world_news"> digg this

posted by Ace at 08:34 PM

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We're officially no longer prime investment grade. There has been some argument about the numbers here. The administration claimed there was a $2 trillion error (against the US's favor) in S&P's calculations, and the administration challenged that error. Honestly, I thought that was probably bullshit and said so on Twitter: I happen to know the Obama Administration is fond of double-counting and faked numbers, so why should I give their claims credence? Not sure how all of that worked out, but S&P ultimately rejected the argument. Unprecedented: S&P Downgrades US Debt to AA+&bodytext=They pulled the trigger. We're officially no longer prime investment grade. There has been some argument about the numbers here. The administration claimed there was a $2 trillion error (against the US's favor) in S&P's calculations, and the administration challenged...&topic=world_news"> posted by Ace at 08:34 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments Axeman: "More important, at their hefty price, are EVs bein ..." Thomas Bender: "@29 >>If Electric cars were so great, wouldn't ..." TheJamesMadison, being witty and sophisticated with Ernst Lubitsch: "33 Remind me again which section of the constituti ..." 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