Monday, August 8, 2011

What People Are Saying About The US Credit Downgrade Online

Posted By on Mon, Aug 8, 2011 at 12:29 PM

Citing Congressional gridlock over debt issues, Standard & Poor's downgraded the United States credit rating from AAA to AA+ late Friday, causing domestic and global markets to plunge at the open of the trading this morning.

President Obama held a press conference this morning to address the downgrade, saying, "We don't need a rating system to tell us we need a long-term approach to debt reduction," and that despite the downgrade, "Markets continue to believe our markets our AAA."

Obama also cited a recent statement from billionaire investor Warren Buffet who said that if anything, the US should be given a quadruple A rating.

The president repeated calls to extend the payroll tax credit, put money into rebuilding bridges and roads and end the Bush-era tax cuts on the ultra-wealthy.

This is a brief sampling of what people are saying online about the credit downgrade.

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