U.S. Rating Rests On S&P’s View of Washington

One man has the U.S.'s credit rating in his hands, and that man is a Brit. And it sounds like he is not going to "pussyfoot" around what the true issue is.

David Beers says he sees a “political divide” in the U.S. that won’t be any easier to bridge with time.

As the London-based managing director of sovereign credit ratings at Standard & Poor’s, Beers will help determine whether the U.S. government’s credit rating will be downgraded as a result of the battle over raising the debt limit.

His company has gone beyond competing credit-rating agencies to say that it isn’t enough for lawmakers to agree to lift the government’s $14.3 trillion debt ceiling. Congress and the White House also must agree to a deficit-reduction package to avoid a downgrade in the government’s AAA credit rating.

In an interview this week at Union Station, just blocks from the U.S. Capitol, Beers said he views the debt limit fight as a test of lawmakers’ willingness to tackle the deficit.

Source.

Finally, it looks like someone powerful has Washington and all the idiotic politicians by the shorthairs over the debt! Simply getting another credit card to continue adding to the national debt isn't good enough anymore!

I wonder what happens when/if the rating is officially downgraded?

If all the money and oil is all set to work from the USA dollar, if it gets downgraded to AA or less, does a country with AAA status step into the top spot, or does the USA still have everything based on their dollar, even though others have AAA status? If the US dollar goes to crap status, how will this still work?

This is territory no one seems to know about.

So confusing.

reply to post by snowspirit


Credit rating means nothing. All these agencies can cease to exist. So can our fiat currency.

The truth is simple; America needs to become self sufficient.

Rome is burning. Historically, the people in charge loot the treasury on their way out.

We can rewrite history. We can adhere to the constitution and abolish the federal reserve overnight, thus bringing debt under control.

We need to become a creditor nation again. The kind we used to be.

We have gone from a country that used to be the biggest lender, to being the biggest borrower.

Ask yourself a simple question; WHO LENDS TO AMERICA. WHAT GROUP OF MEN HAS THE BIGGEST GAIN FROM BORROWING.

There's your answer. These people OWN the credit agencies, just like they are trying to OWN GREECE by purchasing out their infrastructure.

It's all coming here. The entire machine is against you. MSM, Lawmakers, laws, president, big corp. It's all dead set against the common man. Everything is compartmentalized on the way up so that no one is the wiser.

I'm not telling you folks anything you don't know.

I'm telling you that you're not alone.

Power to the people. And not the few people that OWN the federal reserve.

And just what do you propose we do to become self sufficient and why would that be good?