Obama on the Brink of Another Credit Downgrade
Just when the world financial markets had seemed to stabilize after five weeks of the violent convulsions caused by the first credit downgrade in the history of the U.S.; Standard & Poors announced the United States remains on negative credit watch and there is now a one-in-three chance of another U.S. credit downgrade. S&P understands that the President has been politically successful when he refused to cut spending and let the world suffer massive financial losses when S&P downgraded. It appears to be in President Obama’s political interest for America to suffer another credit downgrade crisis.
The new S&P warning follows President Obama’s efforts to sabotage bipartisan cooperation on the “Supercommittee” deficit reduction panel by making confrontational demands for half of a trillion dollars more in stimulus spending and trillions of dollars of new class warfare tax increases on investment and charity.
And now… the rest of the story. …..
Harold
