WASHINGTON – For the first time in history the U.S. credit rating was downgraded – and the White House celebrated in style!
Standard & Poor’s announced Friday night that it has downgraded the sterling U.S. credit rating for the first time in the nation’s history. The Obama Administration not only shrugged off the announcement, and held another barbecue party before the President headed to Camp David for more parties this weekend.
“We’re still AA+,” said Jay Carney, the White House Press Secretary. “An A+ is an A+, we’re still at the top of the class. If we were downgraded to a B or B+ we would be concerned, but we’re still A rated!”
Obama’s had it’s second Hip-Hop BBQ in two days. The President had Earth, Wind and Fire over to the White House along with Jay-Z, Beyonce and Oprah. They all danced in a conga line around Tim Geithner, the Treasury Secretary, who seem unfazed by the downgrade.
“It’s a tiny downgrade, we’ll be upgraded soon. It’s no big deal. Have another mojito,” said Geithner to WWN’s Frank Lake.
S&P decided to lower the AAA rating, held by the United States for 70 years, to AA+ after a bipartisan debt deal signed into law this week failed to assuage concerns about the nation’s growing spending.
Analysts have said a downgrade could increase the cost of borrowingfor the U.S. government and lead to tens of billions of dollars in more interest costs per year. That could translate into higher borrowing for consumers and businesses, too.
Nancy Pelosi and Harry Reid were at the White House “dancing barefoot in the Rose Garden.”
“The downgrade does not affect the White House,” said one White House insider, “we all just got 20% pay raises!”
Tom Hanks danced on a piano rug with Susan Sarandon.
Also present: Chicago pals, law-school friends, donors — and lots of kids of friends, who stole the show by doing dance routines to the hip-hop songs, in the center of the East Room.’
“This is the best downgrade party I’ve ever been to!” said one young White House insider. “This is awesome!”
This is the hope and change I'm talking about, boys and girls! Vote Obama 2012
Yeah, enjoy your tea
Everybody wish Obama a big hug, a Smiley Face, and a Gold Star. Attaboy, One!
I wonder how many tea party members understand the meaning of the word "satire"
sick puppies
You've got to be kidding, the country is going down the toilet and the Whitehouse is having another party and throwing around pay raises for all…. screw the common American.
The country has no money….but hey…lets go on another vacation….have another party….throw tax dollars to those closest to us.
Change,change,change. Listen as it falls out of your pocket and into our national debt. Hope you have more change!
When will he have time for golf?
You've got to be kidding, the country is going down the toilet and the Whitehouse is having another party and throwing around pay raises for all…. screw the common American.
Obama's Hope and Change: No more space program, so our kids can dream of being part of the Chinese space program, No respect from Piss Ant Dictators, No Jobs, No Business, No Pride, but we got lots of debt don't we. I guess we win in that department.
http://adf.ly/2AM87
anyone but Obama 2012 don't be stupid again if you was brainedwash the first time
Welcome to obamaville! I can see November and I can't wait! Drill, Baby, Drill!!!!
This isn't real!!!
I don't want to wait until election. Obama has earned the "no confidence" rating that fires him in Canada. We need to get rid of him and his constituents in order to save America NOW. The quicker he is gone, the quicker we can get back to business. Outrageous continuing behavior. Insult to America.
this is exactly what the white house said would happen it hard changes were not made. The republicans blocked any real change and swore there would be no downgrade. This is the result. This "hews" article is all lies and half truths. The party had nothing do to with the downgrade and was planned long before. This website has become the FOX news of internet news. And of course the moron sheep believe every word.
Are you sure it isn't? Have you read the other news sources? Are they wrong too?
You know that the Weekly World News is satire, right?
Clarification: the U.S. did get downgraded. Obama didn't throw a party, though.
Obama will be the downfall of us all!
He wants to destroy us, not help us!
He is exactly like the company that he keeps. (i.e. Reverend Wright)
This proves that the debt ceiling should NEVER be raised again.
Never again do I want to give Obama an excuse to throw a party!
Seriously, Obama threw his birthday party thinking that his stupid debt ceiling increase would stop the downgrade, but by S&P's comments, it was obviously caused by the Democrats not getting serious about spending cuts/
Just shows how dumb he is – How did an idiot like that ever make it through Kindergarten?.
If the debt ceiling hadn't been raised, the U.S. would have defaulted on its debt. Which would be monstrously bad.
In a recession, spending cuts are NOT the answer.
The government needs to spend MORE during recession. It's Econ 101. Classic Keynes.
There are 4 components of GDP: gov. spending, consumer spending, investment, and net exports. In a recession, when consumer spending, investment, and net exports are down, the only way to raise GDP is to raise gov. spending. Or, in simpler terms, if consumers and businesses aren't in good enough economic shape to get money circulating through the economy, the government needs to do it for them. Spending on social programs is a good way to reduce unemployment, which is really our biggest problem right now, not debt.
It's looking like a double-dip recession now, thanks to the spending cuts. If people would just read their econ textbooks we could avoid a lot of human suffering.
P.S. The Weekly World News is satire. There was no downgrade party.
debt's been there for years. the media hype about the debt ceiling is goofy
The debt has never been $14 Trillion – It was less than half of that just a few years ago.
Obama has hit his stride!! One step forward and two steps back!!
they didn’t downgrade the debt as bad as it really is. just like they didn’t do with the CDO’s before the housing market crashed. betcha the banks aren’t betting on us treasuries going up..
http://youtu.be/m4WNGTPG0v8
how blatent can you get. obama is the modern day nero. how much of washington will still be standing, by 2012 election time?
hugeene
NASA is a worse bureaucracy than Amtrak or the Post Office. Defund the pointless manned program crap and focus on robotic probes and satellite projects like X-ray telescopes and the like. The entire 30 year Space Shuttle program was a phenomenal waste and produced nothing of real value scientifically. If the Chinese want to piss away their money to sent some dudes to eat freeze-died show mein on the Moon, let them do it. There's nothing there other than the ability for the Chinese to say they can now do what the US did in 1969.
NASA should be cut extensively. Amtrak should be sold, The Post Office should also be sold. although that might require a Constitutional amendment so perhaps we should just contract it out privately to the lowest bidder. The F-35 is as much of a dud as the F-22 – unmanned drones and missiles are where it is at and going to be. The F-18 is plenty of plane for the next 50 years for any manned missions, given present and future radar technology and missile technology which make manned planes untenable on a modern battlefield where air superiority is contested.
They wanted the down grade all of the American Government wanted it.
But WHY ,all our debt just went down ,China is now holding American money that has less value than it did before.
If the American inflation gets to 10% all our debt is decreased by half China makes alot less money of the T-bonds they hold.
China is very mad ,who cares not me.
Engineer Scott
Nice rationalizing. Just think -it could be even better if the U.S.A. gets downgraded to an F rating. Then China would be even madder. But how does that help Americans? You have to be kidding.
If the American government truly wanted a down grade, which I seriously doubt, with all the negative repurcussions that go along with our disgusting debt and frivolous liberal leaders, America is a much weaker country with a bad economy and weaker ability to defend ourselves if the need arises.
And don't blame Bush. He was doing pretty well with a strong stock market, a decent economy, and an honest effort to provide for our safety after 9/11, which was backed by the vast majority of Democrats, until the new Democratic Congress with their boys, Barney Frank and Chris Dodd, destroyed Fannie May and Freddie Mack, the value of our homes, and the stock market, to name just a few of the disasters these extreme liberals caused.
Yeah, but, Michael, the White House crowd got a 20% salary increase. How much of an increase have you and your friends and neighbors received?
We blew it when we didn't force the Senate and the president to take action on Cap/Balance. Their voting it down would have 1) identified by name the naysayers, and 2) allowed us to keep our AAA rating because of the cap and balance.
So, we Tea Party types are miscreants, huh? Well maybe the rest of the nation is finding out just how many of us there are who are sick and tired of government as same-old same old and disrespectful of the voters who put them in government in the first place.
i do not mind satire – just as long as it is funny….
I do not mind satire –
How stupid are all the commentors??
THIS
IS
SATIRE.
Idiots
Remember when teachers, public employees, planned parenthood, NPR and PBS crashed the stock market, wiped out half our 401Ks, took trillions in taxpayer funded bailouts, spilled oil in the Gulf of Mexico, gave themselves billions in bonuses, and paid no taxes?
Yeah, me neither. Pass it on.
Until Obama has to change the welfaree system in this country those people will keep him right where he is now. Fat and sassy thumbing his nose at white people and going after the people in this country who have money, that's what he is all about.
duty is always bad, but when you pass the limits of affordability is catastrifico, that's what we're seeing today
Bachman is probably celebrating. She steadfastly refused to vote to raise the debt ceiling. Never mind raising taxes!
Because of this, Boehner has been having a problem with her and the rest of the Tea Party in breaking gridlock.
S&P downgrades the US, citing gridlock and failure to raise revenues.
The stockmarket tanks.
“We need to be truthful,” Bachmann insists, as she is: Asked recently if higher unemployment would be good for her 2012 hopes, she candidly replied, “I hope so.” http://www.newser.com/story/123408/michele-bachma…
HATERS!!!!!!!!!!!!!!!!!!!
It's all smoke and mirrors…
“The downgrade does not affect the White House,” said one White House insider, “we all just got 20% pay raises!”
Seems like a good bash though.