US Credit Rating Downgraded To AA+

Wow. This really is big. Think of the economic ripple effects.

When your credit score goes down, the interest rate on your credit card goes up. Same thing here. The US will have to start paying higher interest rates on its debt. So that eats up even more of our federal budget, which will require even more spending cuts and tax increases than were required before.

Unemployment will trickle back up. The higher interest rates may require the US to increase the money supply leading to inflation.

Hope you're all really good at your jobs.

This is big but hardly surprising. The question is which country currently has a better rating and worthy of large investment?

You have made a lot of assumptions and predictions. Care to put your money where your mouth is? I got $100 ready to go.

Perception is everything. Not that I'm partisan, but I think businesses are trying to set the stage for a republican president. "We're unsure about Obamacare, we don't like the Presidents plan, etc etc etc." Make the public think that maybe if they elect a Republican president thats in favor of big business they'll start hiring again and then maybe they will in hopes of keeping someone in office who will give them breaks on taxes.

Still I don't care what happens. As much as I want basic liberties like gay marriage and the like it still doesn't mean much if a large part of the nation is either unemployed or underemployed. The economy has to be priority number 1, after that we can worry about everything else.

Hopefully this is history repeating itself and it'll be Carter-Regan all over again and we'll have a decade doing nothing but snorting cocaine and wearing ridiculous clothes.

Fantastic stuff.

This is big but hardly surprising. The question is which country currently has a better rating and worthy of large investment?

You have made a lot of assumptions and predictions. Care to put your money where your mouth is? I got $100 ready to go.

I'm not clear about what we'd be betting on?

Perception is everything. Not that I'm partisan, but I think businesses are trying to set the stage for a republican president. "We're unsure about Obamacare, we don't like the Presidents plan, etc etc etc." Make the public think that maybe if they elect a Republican president thats in favor of big business they'll start hiring again and then maybe they will in hopes of keeping someone in office who will give them breaks on taxes.

Still I don't care what happens. As much as I want basic liberties like gay marriage and the like it still doesn't mean much if a large part of the nation is either unemployed or underemployed. The economy has to be priority number 1, after that we can worry about everything else.

Hopefully this is history repeating itself and it'll be Carter-Regan all over again and we'll have a decade doing nothing but snorting cocaine and wearing ridiculous clothes.

Well businesses have to do what's in the best interest of their shareholders. They won't withold hiring to influence the political climate. If they see an opportunity to increase shareholder value they'll hire and take advantage of it.

The problem is there aren't a ton of opportunities right now.

I'm totally with you though, economy is priority one, one A, and one B in my book.

I'm not clear about what we'd be betting on?

Probably the fact that in your eyes (mine too, btw) Obama is done. He's saden's golden boy, for some odd reason.

Probably the fact that in your eyes (mine too, btw) Obama is done. He's saden's golden boy, for some odd reason.

Funny thing is I've generally liked just about everything Obama has done so far in his first term. He's recognized the need to move toward the center - because liberal politics don't work in economically tough times. He has shown himself to be flexible and reasonable.

But our country will not see it that way. Our populace is not bright enough to see beyond the fact that he is the man presiding over our first downgrade.

I'd wait to see who the GOP nominates to run against him before I placed any bets. But this definitely hits Obama and boosts the Tea Party's appeal. What happens when you don't control spending? Your credit gets downgraded. Pretty easy message for the Tea Party to sell, love 'em or hate 'em.

Funny thing is I've generally liked just about everything Obama has done so far in his first term. He's recognized the need to move toward the center - because liberal politics don't work in economically tough times. He has shown himself to be flexible and reasonable.

But our country will not see it that way. Our populace is not bright enough to see beyond the fact that he is the man presiding over our first downgrade.

I'd wait to see who the GOP nominates to run against him before I placed any bets. But this definitely hits Obama and boosts the Tea Party's appeal. What happens when you don't control spending? Your credit gets downgraded. Pretty easy message for the Tea Party to sell, love 'em or hate 'em.

Agreed. But I'm fine with that in this president's case.

I'm not clear about what we'd be betting on?

Obama getting the blame for this and getting the shaft.

Funny thing is I've generally liked just about everything Obama has done so far in his first term. He's recognized the need to move toward the center - because liberal politics don't work in economically tough times. He has shown himself to be flexible and reasonable.

But our country will not see it that way. Our populace is not bright enough to see beyond the fact that he is the man presiding over our first downgrade.

I'd wait to see who the GOP nominates to run against him before I placed any bets. But this definitely hits Obama and boosts the Tea Party's appeal. What happens when you don't control spending? Your credit gets downgraded. Pretty easy message for the Tea Party to sell, love 'em or hate 'em.

We went from he's definitely a gonner to maybe a gonner depending who?

The question is which country currently has a better rating and worthy of large investment?

The Last Countries With Triple-A Ratings (and Those at Risk of Losing Them) - FoxBusiness.com (http://www.foxbusiness.com/markets/2011/08/05/last-countries-with-triple-ratings-and-those-at-risk-losing-them/)

Never been to Austrailia, maybe booking a trip over the next year or so to check it out.