S&P downgrades entire nation's financial health

Thomas Lifson
Regardless of happy talk from the Obamacrats, sober minds in the world financial community recognize that the US is following a suicidal economic plan. The latest sign comes from Standard and Poor's, the bond rating agency. CNBC reports:

Standard & Poor's on Monday downgraded the outlook for the United States to negative, saying it believes there's a risk U.S. policymakers may not reach agreement on how to address the country's long-term fiscal pressures.
"Because the U.S. has, relative to its 'AAA' peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable," the agency said in a statement.

As one would expect, the dollar fell and gold is rising to new records.

Obama is certainly keeping his promise to "fundamentally transform" America -- into a third world country.

Hat tip: Ed Lasky
Regardless of happy talk from the Obamacrats, sober minds in the world financial community recognize that the US is following a suicidal economic plan. The latest sign comes from Standard and Poor's, the bond rating agency. CNBC reports:

Standard & Poor's on Monday downgraded the outlook for the United States to negative, saying it believes there's a risk U.S. policymakers may not reach agreement on how to address the country's long-term fiscal pressures.
"Because the U.S. has, relative to its 'AAA' peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable," the agency said in a statement.

As one would expect, the dollar fell and gold is rising to new records.

Obama is certainly keeping his promise to "fundamentally transform" America -- into a third world country.

Hat tip: Ed Lasky