[tdatk]

He's got a great last name too...

[HateDCRoads]

U.S. Credit Rating Cut by S&P for First Time on Deficit Reduction Accord

By John Detrixhe - Aug 5, 2011

The U.S. had its AAA credit rating downgraded for the first time by Standard & Poor’s on concern spending cuts agreed on by lawmakers to raise the nation’s borrowing limit won’t be enough to reduce record deficits.

S&P dropped the ranking one level to AA+, after warning on July 14 that it would reduce the rating in the absence of a “credible” plan to lower deficits even if the nation’s $14.3 trillion debt limit was lifted. The U.S. was awarded the top credit ranking by New York-based S&P in 1941. It kept the outlook at “negative.”

‘The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics,” S&P said in a statement today.

Demand for Treasuries has surged even with the specter of a downgrade as investors saw few alternatives to the traditional refuge during times of risk as concern increased global growth is slowing and Europe’s sovereign debt crisis is spreading. The action could still hurt the U.S. economy over time by increasing the cost of mortgages, auto loans and other types of lending tied to the interest rates paid on Treasuries. JPMorgan Chase & Co. estimated that a downgrade would raise the nation’s borrowing costs by $100 billion a year.

[Noah]

hilarious big government fail

http://michellemalkin.com/2011/08/07...il-of-the-day/

[joep]

Another car bites the dust:
http://www.msnbc.msn.com/id/44056085/ns/us_news-giving/

[APKhaos]

Damn. I knew Charles, and his brother. Spent many long nights in his Dallas office working on business planning for Sterling Software, which was one of their companies. He was one of those larger than life characters. Didn't have much time for his politics, but he could tell some hair raising yarns and was a expert in full contact business negotiation. Great guy. RIP

[tdatk]

Your doing it wrong .....
http://www.chicagotribune.com/news/l...,5950015.story

[}{arlequin]

[Fritz]

Originally Posted by }{arlequin

LOL!!

[GT3]

Before going to Summit Point in the new car/after Summit Point (turn 4).

[BlackTalon]

Oh crap -- when did that happen?

Hopefully it is just body work. Was only the side damaged?

Run the hose on it (over near the air hose), and it will look a lot better...