US: $2 Trillion Error in S&P Calculations


department-of-treasuryThe US Treasury has hit back against a Standard and Poor’s downgrade of its AAA credit rating, saying there was a $2 trillion dollar error in the agency’s calculations.

“A judgment flawed by a 2 trillion dollar error speaks for itself,” a Treasury spokesman said, just after the US lost its AAA rating for the first time ever and was downgraded to a AA+.

It was the first time the US was downgraded since it first received a triple-AAA rating from Moody’s in 1917; it has held the S&P rating since 1941.

Moody’s and a third ratings agency, Fitch, say they continue to study the deficit plan to see if the US merits being kept in their ranks of AAA countries.

Earlier, an official close to the discussions with S&P said: “There are deep and fundamental flaws with the S&P analysis.”

{Yahoo News/ Newscenter}



    best advice:Make aliyah to eretz yisroel now-where the economy is much better-BEFORE IT GETS WORSE this is only the beginning & the tip of the iceberg.

  2. I made a similar mistake when I made my last deposit. I wrote $2,000,000,000,000.00 on the deposit slip but I only deposited $2.00. It’s a common mistake, happens all the time, nothing much to fret about.

  3. Tshuva movement – you said it. American Jews are slowly losing their window of opportunity to get out of America with their shirts on their backs. America is about to completely spin into oblivion within the next 2 years.

  4. It won’t change anything. The American economy is very weak at this point. The inept Congress & that vacationer in the White house are doing NOTHING to change the situation! They should all be thrown out with a clause, that they could NEVER work in Government ever again!

  5. #2
    The state of Israel is a tiny country wedged
    around enemies. Its security depends highly on the United States. To take advantage of this news to spread fear is not the smart thing to do. At the end of the day its just reaccion to fear what makes the difference.
    Since you seem to find a solution by just moving to E. Israel…..why dont you begin you Tshuva movement with the 60% of Israelis that Hate judaism.

  6. teshuva movement (#2), you are going to Eretz Israel sh’lo lishmo (because the economy is better there) in the hope that once there it will become li’shmo. I think you wrote your comment before reading that the Israeli stock market crashed 7%!!!! I wonder what effect it had on your she’lo lishmo decision. Did you decide that you will wait out until ‘things’ settle?

  7. This is all a scam. If there hadn’t been a debate about eraising the debt ceiling there would have been no downgrade. This is S&p showboating