U.S. Credit Downgraded: S&P Reduces Rating To AA+

[Odysseus]

You are contradicting yourself here. Was it done through the legislative process or was it dictatorial fiat?

A combination of the two, actually. The regulatory burden and imposition of czars is a fiat issue. The legislative process (or a perversion of it) brought us the obscenity of Obamacare. The stimulus was also an abomination. Between them, these two boondoggles accounted for over $2.5 trillion in new debt. And Obamacare's passage was more fiat than legislative, as the rules were bent to the point of incomprehensibility, with the house voting on legislation that originated in the senate, in violation of the Constitutution, and even being prepared to pass legislation without a vote. This is banana republic stuff.

S&P is in no position to scald anyone, let alone the United States. Let them eat Yuans.

S&P is doing its job, which is more than I can say for Obama. Right now, the US debt:GDP ratio is higher than it has been at any time since WWII, when we were spending to defeat the axis powers and then rebuild the shattered global economy. Today's borrowing is paying for entitlements. It's the difference between going into debt to buy business equipment for your home business, and going into debt to keep from having to work. The former will eventually pay off, while the latter is just wasted money. S&P gets that. Sadly, you don't.

So the American system of government works as long as the election cycle produces a result you like?

Damn funny.

No, it works when the Constitution is followed. It fails when the Constitutional constraints are ignored in order to redistribute wealth and perpetuate one party rule.

I thought the military frowned on the use of hallucinogetics?

Hey, I can dream, can't I?