If we don’t win in 2012 the U.S. is doomed.
(The Hill) — John Chambers, the chairman of Standard & Poor’s sovereign debt ratings, on Sunday estimated that it could take between 9 and 18 years for the nation to regain its AAA credit rating.
Chambers said the credit agency could further downgrade the national rating depending on whether President Obama and congressional leaders can agree on reducing the deficit.
Chambers said “it could take a while” for the U.S. to regain its perfect credit rating.
US debt shot up $238 billion to reach 100
percent of gross domestic project after the government’s debt ceiling was
lifted, Treasury figures showed Wednesday.
Treasury borrowing jumped Tuesday, the data
showed, immediately after President Barack Obama signed into law an
increase in the debt ceiling as the country’s spending commitments reached a
breaking point and it threatened to default on its debt.
The 2012 Obama Presidential re-election campaign is now officially in full swing. It is a shovel ready project.
Obama knows how stupid Democrats are and it is on their stupidity he is depending, for had they any brains or long term memory he would lose in a landslide.