Under Obama and as a result of bad decisions by the Obama Adminstration the credit rating ot The United States has been downgraded for the third time.
When Obama took office America was rated AAA. That was downgraded to AA+ on July 16, 2011 then to AA on April 5, 2012 based on the prediction that the national debt would reach $16.7 Trillion by Dec. 31, 2012 and the debt to GDP ratio will reach 112%. On Septenber 14, 2012 America’s credit rating was lowered to AA-. The reason is the amount of money spent by the Federal Government compared to the total amount of money spent by everyone in America. (Here)
In their typical “shoot the messenger” response the SEC charged the firm making the ratings with violations of the law but did not challenge the lower ratings. (Here)
What the hell is wrong with these people? How can Obama sleep at night? How can anyone?