hype

There is lots of hype since last night over word that an agreement for extending the debt ceiling had been reached, but as with all agreements the devil is in the details. From early reports, smaller spending cuts than rating agencies had wanted are in this deal just reached. There will be debate over this bill but the time frame will prevent congress from debating the bill same as the Obama-care bill and we will simply end up with more controversy that will not be good for anyone. I believe the agencies will still downgrade our rating and when that happens you can bet the lame stream media will blame the TEA party and the Republicans..

The ceiling being raised was not the problem for getting a downgrade. The reason for downgrading from AAA was how  much debt was going to be eliminated with the deal once it is agreed to and signed by Obama. If the current deal goes through as is, (and I don't know all the facts) I look for our rating to drop. The downgrade will come from a couple groups but remember folks, we are still talking about the same group of clowns who made decisions that put not only their asses but Americas' ass in a hole. But then they willingly took our perfectly fine USA good old American tax dollars to get their asses out of the hole they dug, and now they are ready to turn around and have the b**s to say, we feel that America can't be trusted to pay it's bills so we're going to downgrade their credit. Our problem is a spending addiction.