(adsbygoogle = window.adsbygoogle || []).push({}); For the first time in history the US has been downgraded from the top of the credit rating table.
From AAA to AA+

Now i know alot of people are not going to care but you should. Why because these credit rating agencies are the base line on how much loans costs.
If a downgrade happens it means increase costs for borrowing.
US is now looking at a 0.7% increase or $100 billion a year
Of course the US still has a good credit rating but not as good. So in the short term the cost increases won't happen as banks and government has measures to counter this move. However longer term your at the mercy of the rating.

If you seen with Greece downgraded increases your debt cost at a lighting speed and makes money harder to get. US has long way to go before it hits that point but it still a path nobody wants to go down.

Credit rating agencies have soo much power but have been wrong before. After the 2008 crisis alot of agencies got the toxic risks wrong. Already been questions about what numbers S&P used and if they was wrong.

3 main credit rating agencies in the world which are used as the basemark for borrowing costs or credit.
Standard and poors
Moody's
Fitch

So we have to wait and see if all of them follow S&P move.

Why did the US get a downgrade that simple.....
First after the almost not reaching a deal on the debt ceiling and the details being quite weak. Next was the significant fiscal reform failure by the US due to the US political reasons coming first.
Lack of tax increases on top of spending cuts being too little too late.
Another one was when US debt was going to mature 2015 with massive amount to pay off and needed to borrow more to keep going adding to the pile.

So what welll.......
Your mortgages now goes up , your credit card bills goes up and any money you borrow.

US now has to cut it debt , re-balance it economy and start to grow along with bringing in more tax. Cheap life style is over for western nations

It's all because of f****ing corporate america. Did you know thst Bill Gates paid 6% in taxes last year? While the working middle class surrender a third of their meagre income, corporations have so many loop-holes to evade taxes. When they save their millions upon millions of dollars, they use some of that money to pay lawmakers to keep it that way, and to control the media...all while getting richer and more powerful. Cut foreign spending. Congressional term limits. No pension. No taking from social security. The right of the constituents to take their representative or senator out of office at anytime with a majority vote. Most of all, a progressive flat tax.

Those billionaires should be paying 50% of their income to taxes.

:FU: obama! :FU:

**** me ............

---------- Post added at 02:10 PM ---------- Previous post was at 02:04 PM ----------


1. Where did you get the 6% from.
2. Do you have any clue how much Bill Gates donates?

In 2010, Bill Gates donated near $10,055,000,000 to charities. He gave almost $10 billion to the Bill and Melinda Gates Foundation-Various.

---------- Post added at 02:17 PM ---------- Previous post was at 02:10 PM ----------


Their tax rate is over 50%.

No. They're still getting out of it for the most part due to Bush's old policies still enforced.

Bill Gates donated that to his OWN charity.

... and?


They pay more than 6% on taxes no matter how you look at it.

Corrack obumma