Standard & Poor’s has downgraded the United States long-term debt rating from stable to negative as a direct result of President Obama’s failed economic policies. Standard & Poor’s is an international credit rating and financial services organization with an impeccable reputation whose pronouncements profoundly influence public and private financial decisions around the world. Their downgrading is a very serious matter and bodes ill for the U.S. economy, or what’s left of it. The organization criticized the very large and growing budget deficits and increasing government debt in America and said that it failed to see how these problems would be dealt with. As soon as the announcement was made markets tumbled, the dollar fell and and the price of gold rose to new records.
Ordinary Americans don’t need Standard & Poor’s to tell them that Obama’s economic policies and performance have been disastrous and have put the country in a fiscal shambles. They know full well that their personal financial health has diminished considerably since Obama took office and that the overall economy is diminishing at an unheard of pace according to virtually every indicator there is, despite the phony rosy picture painted by the White House. America and Americans are becoming poorer every day and Obama’s policies will not do anything to mitigate the slide. They are what caused it in the first place and will do nothing but make things worse. Mitigate no, exacerbate yes. That’s dead certain. America is committing economic suicide under Obama. That’s dead certain too.
Poor really is becoming the new standard in the United States. The implications of that are beyond disastrous. They’re catastrophic.