S&P/Wall St to a group of 40 (R) - Raise the debt ceiling, make cuts

[The Straight Story]

NEW YORK (CNNMoney) -- More than 40 House Republicans on Thursday met with a top official from Standard & Poor's and representatives of other Wall Street groups to hear what could trigger a downgrade of the U.S. credit rating.

....

The other message: Raise the debt ceiling.

A week ago credit rating agency Standard & Poor's warned that there was a one-in-two chance it could downgrade the country's long-term credit rating within 90 days "owing to the dynamics of the political debate on the debt ceiling,"


S&P further warned that it wouldn't be sufficient for Congress to simply raise the debt ceiling. Lawmakers must also pass a sizeable 10-year debt-reduction deal to preserve its otherwise sterling AAA rating, S&P said.

And, the agency added, "for any agreement to be credible, we believe it would require support from leaders of both political parties."

http://money.cnn.com/2011/07/21/news/economy/debt_ceiling_house_gop/index.htm?iid=Lead

[sinkingfeeling]

1. I just love having S&P dictate what the Congress should do. Silly me, I thought they

were blind to housing crash and that the Congress should be listening to the people.

[Speck Tater]

2. As time goes on it becomes more clear who our real masters are.

Now shut up and back to mucking the stalls, peon!