Thank You Barack & Obamanomics … Credit Rating Agency Egan Jones Downgraded the United States Because of Unsustainabible Debt
How bad for America is Obamanomics? Another credit agency has downgraded the United States economy over debt concerns. Obama and Democrats answer is to just keep on spending and increasing the debt. Credit rating agency Egan Jones downgraded the United States … Thanks Obama, why on Earth would any credit agency have concerns with a $15.6 trillion debt and growing.
Credit rating agency Egan Jones downgraded the United States Thursday on concern over the sustainability of public debt. Egan Jones is one of the most important ratings firms in the world; they lowered our credit level from AA+ to AA. The firm reduced America from AAA to AA+ in July 2011, just before Standard & Poor’s did the same.
Egan Jones warned. “Without some structural changes soon, restoring credit quality will become increasingly difficult . . . without some structural changes soon, restoring credit quality will become increasingly difficult.”
The Gatway Pundit reminds us of when Obama complained about what GWB did in 8 years with regards to the national debt? Barack Obama called it irresponsible and unpatriotic. Obama stated that W increased the debt from $5 trillion to $9 trillion. Meanwhile in less than 4 years Obama has increased the debt to 15.6 trillion. If GWB was unpatriotic, then Obama’s handling of the debt is an act of treason.