U.S. said to be bracing for debt rating downgrade

[Donnachaidh]

http://www.rawstory.com/rs/2011/08/05/u-s-said-to-be-bracing-for-debt-rating-downgrade/

According to ABC White House correspondent Jake Tapper, an anonymous government official has told ABC News that the Obama administration is "expecting and preparing for" a downgrade of its debt rating from AAA to AA or AA+ by the bond rating agency Standard & Poor.

Another source, however, agrees that preparations are under way but insists that the administration is not 100% certain that the downgrade will occur.

According to the first official, the reasons given for the downgrade will include "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 third source adds that the reasons will also include "Republicans saying that they refuse to accept any tax increases as part of a larger deal."

More at the link --

[KamaAina]

1. Wasn't that why we ate the Satan sandwich?

To keep exactly this kind of $#*! from happening?!

So basically we gave them 98% of what they wanted for NOTHING ??!! :grr: :banghead: :argh: :nuke:

[Cali_Democrat]

5. Yup. n/t

[fivepennies]

2. Of course it will be downgraded.

They all knew it would be downgraded the whole time they were playing to the audience like they were stars in a Hitchcock thriller.

Dogs and ponies.

And plenty of plausible deniability.

[SpiralHawk]

3. Thanks a big reeking pantload, RepubliBaggers (R)

[WillyT]

4. Hee's The ABC Story:

Link: http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html

:shrug:

:hi:

:kick: & Rec!!!