New AA credit rating for the USA??

#1 How long before we will be slippen into Mexico for work? #2 How long before yuppies will be sending e mail scams to Nigeria? #3 How long before people from China will be coming here to take our kid's home as pets? NEXT

 

I just wanna know what having a AA rating mean for us americans?? Cuz i duzzent know politics

 

Lets stay out of politics its just And gets threads locked. This one is for looking on the funny side. If you can see one?

 

Well we are still AA+. Its basically a first warning to the politicians that they need to get this countries finances together. Is it bad, yes. Will it cause the collapse of America, no. Britain had its credit rating dropped a few years ago as well. They fixed their shit and went back to AAA within a year i think. Its a confidence meter, meaning that to the S&P it appears as IF we might start to have trouble paying back money that the country has borrowed. The government needs to prove them wrong in order for us to get back to AAA like the UK. This will really test our current "leaders" both liberals and conservatives. The governemnt really needs to put aside interest groups, hard core party line thoughts, and petty differences in order to fr this country to really show that we deserve the AAA rating as well as showing the citizens of this country that we are in charge and not those we elected to represent us.

 

Thanks 4X4 As I said in post #3....

 

+1 Well said Sir...

 

Who would have thought a credit rating would be reduced because you spend more than you earn, borrow outrageous amounts of money, and instead of paying it back you just keep getting more credit and max it out.

 

Thanx, i think those first two cups of coffee got me rev'd up...

 

Does this mean that canada ( the wife ) is gonna make us sleep on the couch?

 

You will pay higher interest rates

That's what it means .

 

I gotta pay that damn credit card off soon. The interest rate is already stupid high on it.

 

who/what is the S&P anyway? and whay would their opinion matter?

 

S&p are the people who lend countries money. There opinion matters because if they lower your rating enough it would make it impossible for the country to borrow money. Currently we are borrowing 40 cents for every dollar we spend. So imagine if they cut us off losing 40% of everything the government does. Roads, schools, social security, jobs, etc. They did not drop us further because they know it is possible for us to get our acts together, however they have not seen that we are getting it together. In reality it will probably take another few point drops before congress starts working together for the betterment of our country...

 

Ratings are only as credible as the agencies that assign them. I seem to remember none of the agencies noticing any of the events leading up turn the financial crisis three years ago.

 

Bow to your new Canadian Overlords....

 

Your China's bitch now

 

Sorry

You're China's bitch now