An article entitled " Third World USA: S&P Downgrades US Credit Rating"
http://www.davidduke.com/general/fa...et-causes-us-credit-rating-to-drop_24298.html
The difference between AAA and AA ratings is 0.77 percent. The US has been reduced to AA+. For the sake of argument, let’s say that’s half the difference from AAA to AA or a 0.385 percent change in the interest rate that we have to pay for future borrowing. Let’s assume Obama borrows an additional $2.4 trillion. We’ll have to spend an additional $9.24 billion because of our reduced credit rating.
The US stock market has plunged almost 900 points in the last week, reacting largely to the debt ceiling being raised on Tuesday. The announcement by S&P that the US credit rating was being lowered came out on Friday after trading stopped so we’ll likely be in for a punishing stock market drop on Monday because our government can’t balance its budget.
We have two enormous financial elephants in the living room. One is the deployment of US forces all over the world and what it’s costing us. The other is the US government’s commitment to subsidize a First World lifestyle for 100 million Third World people currently living in the US. We can no longer afford either of these financial black holes. A responsible government would admit its limitations, cut out both of these wasteful expenditures and balance the budget. The Obama regime however is a slave to special interests, including the Israeli Lobby and will keep wasting our money until the day we vote Obama out of power.
http://www.davidduke.com/general/fa...et-causes-us-credit-rating-to-drop_24298.html