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It's all over the news, so pick your favorite source and look at the top story. If the Republicans had agreed to a balanced plan, we would not have this problem.

Where are the jobs, Boehner?

Also, I don't want to hear about a corporate tax holiday from anyone who hasn't researched what happened last time we did that.

Did it open portals that were full of demons?

Like this guy?

It broke some kind of seal.

It's not the fault of either party. It is the fault of BOTH, putting on a theatrical show for months to pander to their constituents, while the rest of the nation is in panic as its teetering on the edge. Of course, during the last they, they passed a quick-fix.

But all these quick-fixes amount to nothing. It just postpones the inevitability of having to face this issue again. Eventually, months later, we will have this debate again and it will be more explosive.

S and P was right to downgrade the United States to AA+, which is still a very good rating. Even if they acknowledged a $2 trillion error, the U.S. debt to GDP is still projected to be far to high.

We must acknowledge that the USA is not invincible and is prone to collapse if we do nothing.

This one's totally on the cheese nip. Boehner got 98% of what he wanted by his own admission, so 6 months from now, when we're still up to or waists in poo, he needs to answer for it.

^THIS^

It's all about political posturing - who takes the credit, and who is assigned the blame.

And while our attentions are focused on Washington, the global plutocrats are laughing all the way to the bank.

You left out the fact that Obama decided to renig on the deal at the last minute wanting an additional $400 billion in "revenues" on top of the $800 billion of closing loopholes, which was a straight up tax increase. That is called not honoring an agreement, so Boehner was in the right to break off negotiations with the White House.

Or are you saying it's okay for Obama to arbitrarily change terms of an agreement or a contract whenever he feels like it?

What else could happen with the lies and falsehoods the fiat currency system was based on.
Even gold and silver standards place arbitrary over inflated values on items which are only good as conductors and not the best ones for that.
No fix within the system unless the create another layer of financial games to cover up the current mess.

Actually, it's the fault of the 87 members of Congress who are affiliated with the Tea Party. Their failure to understand and/or acknowledge the ramifications of their illogical, fantasy-based refusal to increase the debt ceiling is precisely to blame for this downgrade.

Case in point: John Boehner commissioned a Republican economist to present the facts about what a default would mean to the U.S. and world economies to his party members. The Republicans affiliated with the Tea Party greeted the presentation with hostility and doubt. Their problem: if this economist was in agreement with the Obama administration about the damage a default would do, his credentials and/or his motivations must be suspect and unworthy of trust. That is precisely the problem with the Tea Party: they have no tolerance for the facts or the truth, much less the impact of their steadfast adherence to their simple principles in the face of the complexities of the world's financial systems.

President Obama's biggest mistake was in failing to use the powers granted him by the 14th Amendment to pay the country's debts - and stop this embarrassing display of dangerous, reckless stupidity by the Tea Party Republicans.

Thanks alot, Lord Obamort. Now we can collapse like Greece and Italy.

Uggh, how to put this... The line was funnier back when my friends in gunsmithing school joked about Hildamort, since the word "Clinton" was practically forbidden there, so she who must not be named sort of worked with the joke. Now, with so many legitimate areas to critique Obama, why would you diminish yourself with the schoolyard name-twisting? Especially in such an unoriginal way, I mean Obama bin laden is a bit played out, but you've still got Obummer, which is still better than Obamort, which is insulting to a perfectly serviceable fantasy villain. Say what you will about Voldamort, but he was a strong, decisive leader that you knew where you stood with, the comparison just doesn't hold.

Perhaps this fine product, recently pulled from UT stores after a Democratic legislator complained, will get your creative juices flowing.

I can hardly wait until the next General Election; but this impatience is tempered by the realization that not one current Republican candidate has the chops to do a better job.

We're all doomed!

Doomed, I say!

That's what you get for all those Caribou Barbie jokes... I'm with you though, the current bunch really is an embarrassment to the GOP and possibly the country as a whole. I'd still take Gary Johnson in a heartbeat, and everyone else is still going "Who?"...

At this point, I would take Jack Hanna from the Columbus Zoo over Obozo.

If the interest rates on US Treasuries rise by 1% as a result of the downgrade, the increased cost of refinancing existing debt will exceed the savings from the spending cuts in the compromise.

Yeah, I thought that was funny when I heard it. Penny-wise, pound foolish.

But with any luck little will change. US treasuries are popular right now.