Happy Birthday Mister President

Phoenixx · 08-05-2011, 09:57 PM

[B]Standard & Poors Downgrades U.S. Credit Rating From AAA[/B]

[QUOTE]Published August 05, 2011

Urgent: Credit rating agency Standard & Poor's on Friday downgraded the United States' credit rating for the first time in the history of the ratings.

The credit rating agency said that it is cutting America's top AAA rating by one notch to AA-plus. The credit agency said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation.

A source familiar with the discussions said that the Obama administration feels the S&P's analysis contained "deep and fundamental flaws."

S&P said that in addition to the downgrade, it is issuing a negative outlook, meaning that there was a chance it will lower the rating further within the next two years. It said such a downgrade to AA would occur if the agency sees less reductions in spending than Congress and the administration have agreed to make, higher interest rates or new fiscal pressures during this period.

S&P first put the government on notice in April that a downgrade was possible unless Congress and the administration came up with a credible long-term deficit reduction plan and avoided a default on the country's debt.

After months of wrangling and negotiations with the administration, Congress passed this week a debt reduction package that averted a possible default.

In its statement, S&P said that it had changed its view "of the difficulties of bridging the gulf between the political parties" over a credible deficit reduction plan.

S&P said it was now "pessimistic about the capacity of Congress and the administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics anytime soon."
[/QUOTE]

[url]http://www.foxnews.com/politics/2011/08/05/us-official-says-sp-reconsidering-us-credit-downgrade/#ixzz1UD4Ez0hx[/url]

AlbanyJet · 08-06-2011, 07:18 AM

Judging from the teleprompter speeches that Obama gave in Chicago on Wednesday and Washington on Friday I'd say he looks like he's wore out and can't take much more. :limp:

Sad.

:jets17

southparkcpa · 08-06-2011, 07:47 AM

[QUOTE=Phoenixx;4093390][B]Standard & Poors Downgrades U.S. Credit Rating From AAA[/B]

[url]http://www.foxnews.com/politics/2011/08/05/us-official-says-sp-reconsidering-us-credit-downgrade/#ixzz1UD4Ez0hx[/url][/QUOTE]

This is the same organization that rated the mortgage back securities AAA.

This AA rating is long overdue.........

AlbanyJet · 08-06-2011, 08:41 AM

[url]http://www.newsmax.com/Politics/Obama-50-birthday-bash/2011/08/05/id/406267[/url]

[SIZE="4"][B]Obama Has 50th Birthday Bash as Markets Slide[/B][/SIZE]

Friday, 05 Aug 2011 01:32 PM

By Martin Gould

In the middle of the massive stock market slide, [B]President Barack Obama did the electric slide[/B] at the White House as he partied the night away his at his celebrity-filled 50th birthday bash.

But he celebrated quietly. The White House press corps was dismissed at 4 p.m. and guests, including Tom Hanks, Whoopi Goldberg and Hillary Clinton started arriving at 5.

Rapper Jay-Z, NBA legends Charles Barkley and Grant Hill, football great Emmitt Smith and comedian Chris Rock were also there to mark O’s Big 5-0.

Herbie Hancock and Stevie Wonder were among the musicians who played in the East Room. Guests ate grilled chicken, burgers, Chicago-style hot dogs and ribs washed down with American wines. They danced barefoot in the Rose Garden, according to the blog Obama Foodorama.

The event was casual – “there was not a tie in sight” – reported the blog’s Eddie Gehman Kohan. [B]At one point Obama challenged his guests to dance.
[/B]
First Daughters Sasha and Malia Obama were allowed to stay up for the bash and the president’s mother-in-law Marian Robinson was also among the [B]200 revelers.[/B]

Politicians present included the Democratic leaders in the House and Senate, Nancy Pelosi and Harry Reid former governors Bill Richardson and Tim Caine, White House chief of staff Bill Daly and campaign fundraiser Andy Spahn.

[B]Obama’s big day came on the same day when there was little to celebrate – the Dow Jones Industrial Average slipped by more than 500 points, the biggest one day decline since December. [/B]

:jets17

shakin318 · 08-06-2011, 12:43 PM

[QUOTE=AlbanyJet;4093578][url]http://www.newsmax.com/Politics/Obama-50-birthday-bash/2011/08/05/id/406267[/url]

[SIZE="4"][B]Obama Has 50th Birthday Bash as Markets Slide[/B][/SIZE]

Friday, 05 Aug 2011 01:32 PM

By Martin Gould

In the middle of the massive stock market slide, [B]President Barack Obama did the electric slide[/B] at the White House as he partied the night away his at his celebrity-filled 50th birthday bash.

But he celebrated quietly. The White House press corps was dismissed at 4 p.m. and guests, including Tom Hanks, Whoopi Goldberg and Hillary Clinton started arriving at 5.

Rapper Jay-Z, NBA legends Charles Barkley and Grant Hill, football great Emmitt Smith and comedian Chris Rock were also there to mark O’s Big 5-0.

Herbie Hancock and Stevie Wonder were among the musicians who played in the East Room. Guests ate grilled chicken, burgers, Chicago-style hot dogs and ribs washed down with American wines. They danced barefoot in the Rose Garden, according to the blog Obama Foodorama.

The event was casual – “there was not a tie in sight” – reported the blog’s Eddie Gehman Kohan. [B]At one point Obama challenged his guests to dance.
[/B]
First Daughters Sasha and Malia Obama were allowed to stay up for the bash and the president’s mother-in-law Marian Robinson was also among the [B]200 revelers.[/B]

Politicians present included the Democratic leaders in the House and Senate, Nancy Pelosi and Harry Reid former governors Bill Richardson and Tim Caine, White House chief of staff Bill Daly and campaign fundraiser Andy Spahn.

[B]Obama’s big day came on the same day when there was little to celebrate – the Dow Jones Industrial Average slipped by more than 500 points, the biggest one day decline since December. [/B]

:jets17[/QUOTE]

I'm not surprised Obama is celebrating. And I'm not sure it has anything to do with his birthday.

AlbanyJet · 08-07-2011, 10:16 AM

Here's how they celebrated President Obama's 50th birthday at the Wisconsin State Fair.

[url]

PlumberKhan · 08-07-2011, 01:24 PM

[QUOTE=AlbanyJet;4094355]Here's how they celebrated President Obama's 50th birthday at the Wisconsin State Fair.

[url]

08-05-2011, 09:57 PM	#1
Phoenixx Hall Of Fame Join Date: Mar 2007 Location: Fairfield County, CT Posts: 6,870	Happy Birthday Mister President [B]Standard & Poors Downgrades U.S. Credit Rating From AAA[/B] [QUOTE]Published August 05, 2011 Urgent: Credit rating agency Standard & Poor's on Friday downgraded the United States' credit rating for the first time in the history of the ratings. The credit rating agency said that it is cutting America's top AAA rating by one notch to AA-plus. The credit agency said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation. A source familiar with the discussions said that the Obama administration feels the S&P's analysis contained "deep and fundamental flaws." S&P said that in addition to the downgrade, it is issuing a negative outlook, meaning that there was a chance it will lower the rating further within the next two years. It said such a downgrade to AA would occur if the agency sees less reductions in spending than Congress and the administration have agreed to make, higher interest rates or new fiscal pressures during this period. S&P first put the government on notice in April that a downgrade was possible unless Congress and the administration came up with a credible long-term deficit reduction plan and avoided a default on the country's debt. After months of wrangling and negotiations with the administration, Congress passed this week a debt reduction package that averted a possible default. In its statement, S&P said that it had changed its view "of the difficulties of bridging the gulf between the political parties" over a credible deficit reduction plan. S&P said it was now "pessimistic about the capacity of Congress and the administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics anytime soon." [/QUOTE] [url]http://www.foxnews.com/politics/2011/08/05/us-official-says-sp-reconsidering-us-credit-downgrade/#ixzz1UD4Ez0hx[/url]

08-06-2011, 07:18 AM	#2
AlbanyJet All League Join Date: Apr 2003 Posts: 2,633	Judging from the teleprompter speeches that Obama gave in Chicago on Wednesday and Washington on Friday I'd say he looks like he's wore out and can't take much more. :limp: Sad. :jets17

08-06-2011, 07:47 AM	#3
southparkcpa I see the 88 to 97 period all over again. Jets Insider VIP Join Date: Sep 2005 Location: NC Posts: 15,751	[QUOTE=Phoenixx;4093390][B]Standard & Poors Downgrades U.S. Credit Rating From AAA[/B] [url]http://www.foxnews.com/politics/2011/08/05/us-official-says-sp-reconsidering-us-credit-downgrade/#ixzz1UD4Ez0hx[/url][/QUOTE] This is the same organization that rated the mortgage back securities AAA. This AA rating is long overdue.........

08-06-2011, 08:41 AM	#4
AlbanyJet All League Join Date: Apr 2003 Posts: 2,633	[url]http://www.newsmax.com/Politics/Obama-50-birthday-bash/2011/08/05/id/406267[/url] [SIZE="4"][B]Obama Has 50th Birthday Bash as Markets Slide[/B][/SIZE] Friday, 05 Aug 2011 01:32 PM By Martin Gould In the middle of the massive stock market slide, [B]President Barack Obama did the electric slide[/B] at the White House as he partied the night away his at his celebrity-filled 50th birthday bash. But he celebrated quietly. The White House press corps was dismissed at 4 p.m. and guests, including Tom Hanks, Whoopi Goldberg and Hillary Clinton started arriving at 5. Rapper Jay-Z, NBA legends Charles Barkley and Grant Hill, football great Emmitt Smith and comedian Chris Rock were also there to mark O’s Big 5-0. Herbie Hancock and Stevie Wonder were among the musicians who played in the East Room. Guests ate grilled chicken, burgers, Chicago-style hot dogs and ribs washed down with American wines. They danced barefoot in the Rose Garden, according to the blog Obama Foodorama. The event was casual – “there was not a tie in sight” – reported the blog’s Eddie Gehman Kohan. [B]At one point Obama challenged his guests to dance. [/B] First Daughters Sasha and Malia Obama were allowed to stay up for the bash and the president’s mother-in-law Marian Robinson was also among the [B]200 revelers.[/B] Politicians present included the Democratic leaders in the House and Senate, Nancy Pelosi and Harry Reid former governors Bill Richardson and Tim Caine, White House chief of staff Bill Daly and campaign fundraiser Andy Spahn. [B]Obama’s big day came on the same day when there was little to celebrate – the Dow Jones Industrial Average slipped by more than 500 points, the biggest one day decline since December. [/B] :jets17

08-06-2011, 12:43 PM	#5
shakin318 Beslubbering beef-witted lout Board Moderator Jets Insider VIP Charter JI Member Join Date: May 1999 Location: Funkytown Posts: 7,181	[QUOTE=AlbanyJet;4093578][url]http://www.newsmax.com/Politics/Obama-50-birthday-bash/2011/08/05/id/406267[/url] [SIZE="4"][B]Obama Has 50th Birthday Bash as Markets Slide[/B][/SIZE] Friday, 05 Aug 2011 01:32 PM By Martin Gould In the middle of the massive stock market slide, [B]President Barack Obama did the electric slide[/B] at the White House as he partied the night away his at his celebrity-filled 50th birthday bash. But he celebrated quietly. The White House press corps was dismissed at 4 p.m. and guests, including Tom Hanks, Whoopi Goldberg and Hillary Clinton started arriving at 5. Rapper Jay-Z, NBA legends Charles Barkley and Grant Hill, football great Emmitt Smith and comedian Chris Rock were also there to mark O’s Big 5-0. Herbie Hancock and Stevie Wonder were among the musicians who played in the East Room. Guests ate grilled chicken, burgers, Chicago-style hot dogs and ribs washed down with American wines. They danced barefoot in the Rose Garden, according to the blog Obama Foodorama. The event was casual – “there was not a tie in sight” – reported the blog’s Eddie Gehman Kohan. [B]At one point Obama challenged his guests to dance. [/B] First Daughters Sasha and Malia Obama were allowed to stay up for the bash and the president’s mother-in-law Marian Robinson was also among the [B]200 revelers.[/B] Politicians present included the Democratic leaders in the House and Senate, Nancy Pelosi and Harry Reid former governors Bill Richardson and Tim Caine, White House chief of staff Bill Daly and campaign fundraiser Andy Spahn. [B]Obama’s big day came on the same day when there was little to celebrate – the Dow Jones Industrial Average slipped by more than 500 points, the biggest one day decline since December. [/B] :jets17[/QUOTE] I'm not surprised Obama is celebrating. And I'm not sure it has anything to do with his birthday.

08-07-2011, 10:16 AM	#6
AlbanyJet All League Join Date: Apr 2003 Posts: 2,633	Here's how they celebrated President Obama's 50th birthday at the Wisconsin State Fair. [url]

08-07-2011, 01:24 PM	#7
PlumberKhan BRACE YOURSELVES FOR 12... Hall Of Fame Join Date: Feb 2006 Location: Van down by the river Posts: 21,028	[QUOTE=AlbanyJet;4094355]Here's how they celebrated President Obama's 50th birthday at the Wisconsin State Fair. [url]