Obama Administration Claims S and P Decision to Downgrade on US Debt Involves Bad Math?

Just as many had expected, as did I, Standard and Poor's has downgraded the credit rating of the United States. Of course, the Obama Administration claims that S & P's decision to downgrade on US Debt involves bad math? Okay so, here is my immediate opinion when I heard that; "Well, if that isn't calling the kettle black," I ask? I mean here we have an Administration which passed the ObamaCare bill using ridiculously flawed math, but they went ahead anyway.

The Obama Administration said it was like "amateur hour" at Standard and Poor's - of course, a friend of mine who works there said to me that if President Obama and Nancy Peloci resign then it would consider an upgrade in the credit rating. The point is that the Obama Administration and the socialist-leaning individuals in Congress have been spending us into oblivion. We have runaway challenges with Medicare, and increasing medical and healthcare costs, and a "real" demographic challenge with social security coming - everyone knows that.

There was an interesting article in Bloomberg BusinessWeek August 8 to August 14, 2011 issue in the Markets & Finance titled; "The Tricky Business Rating Uncle Sam Triple-A Credit Rating," which was actually published the day before the downgrade. This was NOT a surprise, in fact, I had previously wrote an article stating; "The Credit Rating agencies will downgrade US Debt anyway," during the big debt ceiling debate.

CNN and the President immediately used this downgrade to push their tax-raising scheme, saying that if they raised taxes they could reduce the gap between inflows and out-goes. The way I see it, the US government borrows 40% of every dollar it spends, so it doesn't deserve a Triple-A Credit Rating, and no bank would wish to lend money to a corporation in that situation, with no way out, and on-going outflow losses like that.

Now then, the Obama Administration could raise taxes with the help of the super-committee to help balance our budget, but in doing so it would slow down the economy even more, higher unemployment rates, double-dip recession, and long-term economic challenges. Because of all this and other reasons, the US doesn't deserve its credit rating to be the best in the World, credit ratings are earned, and this group of leaders has done everything in the world to lose that stellar rating.

Some friends of mine tell me that the SEC is likely to move ahead with lawsuits with S & P due to their failings and ratings of the mortgage bundles which assisted in the global financial collapse. Well, this is a high-stakes game and there is a lot of animosity, politics, and fuzzy math in the game, so stay tuned. Please consider all this and think on it.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes writing 24,444 articles by September 4th at 4:44 PM will be difficult because all the letters on his keyboard are now worn off now..