S & P lowers the U. S. credit rating to (gasp, moan ) . . . . AA+!!!

Standard & Poor reduced the U.S. government's long term credit rating to AA+. The good news is AA+ is the 2nd highest credit rating. Microsoft now has a higher credit rating than the U.S., but AA+ is still the envy of many governments and corporations. Ford Motor Company has a B+ rating, pretty impressive when you realize Ford did not request any stimulus, bailout or any other form of handouts from the U.S. government.

Here are a few fearless predictions on the effects of this historic event. (S&P has rated the U.S. government's long term debt at AAA since they first rated it in 1917)

1. No increase in the interest charged to the U.S. government. Remember, AA+ is still investment grade. Also remember lots of countries and the U.N. are dependent on the U.S. for protection from larger enemies.

2. We do have a large stockpile of thermonuclear weapons.(sarcasm alert!!)

3. We give away loads of money in foreign aid.

4. In the long term, The U.S. will learn a few valuable lessons and mend its ways. One of the biggest messages the election of 2010 sent to Washington was the lack of approval many voters have for the Pirates of the Potomac (our politicians). They believe D.C. suffers a severe lack of adult supervision.

Ignore all the finger pointing and blame setting. the U.S. did not get into this depression overnight because of one political party or one presidential administration. It took a long time and a lot of bad judgment by lots of people to get into this mess. It will take a while to undo the damage. The Japanese have a saying, fix the problem and not the blame. (Sean Connery to Wesley Snipes in Rising Sun, a great movie worth watching more than once )