Credit rating firm Egan-Jones today downgraded its rating on U.S. government debt from AA to AA-, following the Federal Reserve’s announcement Thursday that it would begin a third round of stimulus spending, an open-ended plan to purchase $40 billion of mortgage debt a month.
In April, Egan-Jones had cut the U.S.’s credit rating from AA+ to AA, citing the rising national debt. While the president had rated himself a “solid B+” after his first 11 months in office, news of a second credit downgrade seems to have earned President Obama an “incomplete” at best and solidified the nickname “President Downgrade.”
The reign of President Downgrade continues http://t.co/JbMrfYji
— Rick Wilson (@TheRickWilson) September 14, 2012
PRESIDENT DOWNGRADE: U.S. Credit Rating Cut Again. http://t.co/CSMiLJAN
— DanRiehl (@DanRiehl) September 14, 2012
President Double Downgrade.
— Area Man (@lheal) September 14, 2012
Breaking: Foreign Policy President is also President Downgrade: AA-.
Actually, he’s been President Downgra… http://t.co/8QvAZOjx #tcot— HardcoreConservative (@leanright2012) September 14, 2012
Obama said last year: “We’ve always been, and always will be a AAA country” Not anymore champ: AA- http://t.co/NBXfNTLI #PresidentDowngrade
— Jim (@Bassmaster12) September 14, 2012
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https://twitter.com/DANEgerus/status/246755636501700608
President Downgrade @BarackObama & Benny Berwanke printing US$ until we're RUN OFF THE DaMN cliff! 2nd DOWNGRADE! http://t.co/uMfEnwTE
— TejasKat (@TejasKat) September 15, 2012
https://twitter.com/TheRealPebo/status/246722516977078273
https://twitter.com/housecatt05/status/246706439521988609
Embassies under assault. The Fed is printing money. America's credit downgraded. Media: "LOOK! SQUIRREL!" #PresidentDowngrade
— Sunny McSunnyface (@sunnyright) September 14, 2012
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