Okay, S&P cut their rating of the U.S. financial picture from AAA to AA+. Yes, it's true that S&P, as believers in Lake Woebegon, also rated 75% of the securities issued by mortgage lenders as AAA, so one must question their competency. They over-rated the mortgage securities because the lenders paid them. Maybe the Tea Party has paid them now to lower the country's rating. Who knows? And in the current climate I would not be quick to rule it out.
However, this downgrade may also give our idiotic leaders some pause and cause some of them to start working for us, rather than their re-election.
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