VIDEO - S&P Debt Chief Warns Agency Might Downgrade U.S. Rating AGAIN

Video - David Beers On Fox with Chris Wallace - Aug. 7, 2011

From earlier this morning.

S&P Says 1 in 3 Chance of More U.S. Downgrades

Q: Can you explain Tel Aviv markets’ reaction today? (Israel's stock market fell 6% and trading was halted.)

Beers: Much of what is worrying markets is Europe and from a global economic perspective that the economy might be slowing. So the market is not just reacting to S&P's decision.

Q: Do you hold Democrats or Republicans more responsible, and do you need to see a combination of entitlements and revenues in a compromise?

Beers: “Both parties are jointly responsible; it’s really not about either party. The decision is about difficulty on all sides to find compromise. We think credibility would demand that any agreement would command support from both parties. But the key thing is, yes, entitlement reform; it’s important because it is the biggest component of spending.”

Q: The White House isn’t happy – they say you made a $2 trillion overstatement and then changed your justification for the decision…

Beers: “[That's a] complete misrepresentation of what happened. When we made the modification, we did so after talking to the Treasury; it doesn’t change the fact that even with an agreement, that the underlining debt is building and is rising and will continue to rise.”

Q: Given the economic and political situation, do you see upgrading [of the credit rating] or further downgrades?

Beers: "We have a negative outlook on the rating and that means we think that the risk currently for the rating are to the downside." 

Comments

[DailyBail]

S&P Chief Looks at Entitlement Reform to Resolve Debt Downgrade

http://www.foxnews.com/politics/2011/08/07/sp-chief-looks-at-entitlement-reform-to-resolve-debt-downgrade/#ixzz1UMc9CCNy

[DailyBail]

White House adviser blames tea party for downgrade

http://news.yahoo.com/white-house-adviser-blames-tea-party-downgrade-155220470.html

[TR]

Loony Liberals & George W. Obama :It's not our fault. We know NOTHINK.

How does one convert AA+ rating to a FICO score?

[mick]

Watch "Inside Job" ,jail the Banksters and all that enable them !



Moody's, S&P and Fitch are all part of the scam .

[Dave]

I posted this on the new article. It is from Yahoo News dated Aug 7, 2011. What a 2 A rating is and what is means to you.

http://finance.yahoo.com/news/SP-Rating-Your-money-in-a-hmoney-388856032.html?x=0

[TR]

Standard & Poors “Research Update:

“We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.”

[LiberatedCitizen]

Moody's says U.S. needs to find more deficit cuts or they will downgrade us too

http://www.reuters.com/article/2011/08/08/us-usa-ratings-moodys-idUSTRE77713K20110808

Michael Moore turns on obama

http://michaelmoore.com/words/mike-friends-blog/is-obama-a-fraud

[Howard T. Lewis III]

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