Wednesday, April 28, 2010

Obama modeling US economy after Europe's

Today, S&P downgraded Spain's long-term sovereign rating from AA+ to AA.  Yesterday, Greece's long-term sovereign credit rating was downgraded from BBB+ (which is investment grade) to BB+ (which is 'junk' status).  Portugal's rating was downgraded two notches to A-.

The USA currently has a Aaa rating but, earlier this year, Moody's warned  that continued pursuit of Obamanomics, see plot below, would threaten that rating.

PREVIOUSLY on the subject of Obamanomics and how it differs from economics:
Obamanomics prolonging the recession
US Aaa bond rating threatened by Obama's budget says Moody's
Obamanomics illustrated II
How Dems are prolonging the recession
How Obamanomics destroys jobs
Obamanomics illustrated
Deficits: Obama goes where no man has gone before (illustration)
How to raise the standard of living
Obama's anti-intellectual economic theory
Obamanomics and the test of science
Obamacare may raise insurance costs by 54%
Harvard economist explains why Obamacare will raise premiums
HHS says Obamacare will cause costs to go up and cause employers to drop coverage

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