US Credit downgraded AGAIN-Twice unde...

US Credit downgraded AGAIN-Twice under Obama

Posted in the Morehead Forum

Wisdom

Hamilton, OH

#1 Sep 14, 2012
Folks, you better realize the fiscal damage this administration is doing- this will again raise our loan rates to the Government and QE3 for every month the Fed sees fit is going to create a fake supported stock market and will create inflation and will devalue our dollar. This administration is now propping up this President at our expense, creating the fake narrative that all is well economically.

You better prepare yourselves for the forthcoming crash. It IS going to happen and your lives will be changed.

US Credit Rating Cut by Egan-Jones ... Again
Published: Friday, 14 Sep 2012 | 3:43 PM ET Text Size
By: CNBC.com

Ratings firm Egan-Jones cut its credit rating on the U.S. government to "AA-" from "AA," citing its opinion that quantitative easing from the Federal Reserve would hurt the U.S. economy and the country's credit quality.

In its downgrade, the firm said that issuing more currency and depressing interest rates through purchasing mortgage-backed securities does little to raise the U.S.'s real gross domestic product, but >>>reduces the value of the dollar.

In turn,>>> this increases the cost of commodities, the firm said.

In April, Egan-Jones cuts the U.S. credit rating to "AA" from "AA+" with a negative watch, citing a lack of progress in cutting the mounting federal debt.
repubnolonger

Mount Sterling, KY

#2 Sep 14, 2012
There is Al Quaeda in the middle east....America has the Tea Party....propganda is like a loaded gun....and the Tea Party have their finger on the trigger....now is the time to VOTE them out of our politics........!!
Wisdom

Hamilton, OH

#3 Sep 15, 2012
4 more years....and well make Greece look like a walk in the park...some people are proving the blind loyalty in the face of absolutely undeniable evidence and realities that prove "Zer0" is a failure.

At this point he is making Jimmy Carter look good.
bystander

Cincinnati, OH

#4 Sep 15, 2012
GET OVER IT AND MOVE ON ALREADY,FACE YOUR LOSING.
repubnolonger

Mount Sterling, KY

#5 Sep 15, 2012
There is Al Quaeda in the middle east....America has the Tea Party....propganda is like a loaded gun....and the Tea Party have their finger on the trigger....now is the time to VOTE them out of our politics........!!
Wisdom

Hamilton, OH

#6 Sep 15, 2012
Because the President has spent us into oblivion; and sequestration cuts are now going to be imposed substantial cuts will be imposed throughout the system...can anybody start to recognize the similarities between us and Greece?

Sequester would cut $11 billion from Medicare
By Sam Baker - 09/14/12 04:39 PM ET

Sequestration would cut $11 billion from Medicare and take millions of dollars away from Affordable Care Act implementation programs.

The Obama administration released its highly anticipated report Friday on the effects of sequestration a blunt-force budget-cutting tool that Congress created when it raised the country's debt ceiling.

The sequester would make deep cuts to defense spending as well as domestic programs. Medicare payments to doctors, hospitals and other healthcare providers would take an across-the-board 2 percent cut. That would come out to roughly $11 billion, according to the administration's report.

The sequester would also make significant cuts to programs created by the Affordable Care Act, which are not subject to the 2 percent cap.

Grants to help states establish insurance exchanges new marketplaces for private insurance coverage would lose $66 million, the administration said. The law's prevention and public health fund would lose $76 million

Overall "program management" at the agency that oversees Medicare and Medicaid would be cut by more than $60 million if the automatic spending cuts are allowed to go into effect.

Congress exempted Medicaid and the Children's Health Insurance Program from the sequester, but other healthcare programs would have to absorb big hits.

The Food and Drug Administration would lose $318 million more than 8 percent of its budget. And the National Institutes of Health would see a cut of more than $2.5 billion. Academics and other advocates for medical research say the NIH cuts would be devastating for medical science.

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