August 5th, 2011
09:39 PM ET

S&P Downgrades U.S. Credit Rating: Join the Live Chat

Breaking News: S&P has downgraded the U.S. credit rating to AA+ from AAA. "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," the agency said about the move. We'll talk with the head of S&P. Plus, we have reaction from Obama administration officials and the Treasury. As you might imagine, they're not happy. Plus, what this all means to your bottom line. We'll also have tonight's other headlines.

Scroll down to join the live chat during the program. It's your chance to share your thoughts on tonight's headlines. Keep in mind, you have a better chance of having your comment get past our moderators if you follow our rules.

Here are some of them:

1) Keep it short (we don't have time to read a "book")
2) Don't write in ALL CAPS (there's no need to yell)
3) Use your real name (first name only is fine)
4) No links
5) Watch your language (keep it G-rated; PG at worst - and that includes $#&*)

Filed under: Live Blog
soundoff (136 Responses)
  1. Lana

    Immediately following passage of the Debt Ceiling Deal GOP House Speaker Boehner said, "I got 98% of what I wanted ... I'm pretty happy." What about any of this would make anyone happy??

    August 5, 2011 at 10:59 pm |
  2. Nina

    Good night everyone... Have a wonderful weekend

    August 5, 2011 at 10:59 pm |
  3. Paula, Colorado

    Safe travels, Anderson.

    August 5, 2011 at 10:59 pm |
  4. Gloria, Brooklyn, NY

    Good Night Everyone! " Have a wonderful weekend! Your weekend await you!"

    August 5, 2011 at 10:59 pm |
  5. Janis

    Good night all. See you early Monday with the fight to help Somalia.

    August 5, 2011 at 10:58 pm |
  6. Megan Dresslar - Shoreline, WA

    Good night Anderson, everyone and my friends!!!
    See you on Monday night, Have a great night & Sleep tight everyone!!! Have a great weekend! Thanks for coming in to join us tonight! I love deer fell into pool with other mammals!!! Cute shot!

    Have a great/good night and sleep at home. Great weekend! See you on Monday night!!! Just a plenty sleep and rest at home! See you new time at 8pm!!!!!!!!!!!

    August 5, 2011 at 10:57 pm |
  7. Lori - CA

    Stay safe in Somalia Anderson.

    August 5, 2011 at 10:57 pm |
  8. Saskia

    To be honest: AA+ is a very good rating for our 'health'. They downgrated better states to a lower rating. The agencies are homeland-companies, that's why we really can't complain. What if they would be greece agencies?

    August 5, 2011 at 10:56 pm |
  9. Blair Purdy

    No offence, but you Americans have just been truly DONE
    by Wall Street. Now you're letting them give you advice...
    and wrist-slapping your country for flawed leadership and
    control over all things financial? WOW!
    S&P, and any other US creditor should be ashamed of even
    suggesting this sort of downgrade.


    August 5, 2011 at 10:56 pm |
  10. Harry

    I think American people are tired of politicians bickering. I believe we have the right to know exactly what money was spent what, where, and how by what administration. John Boehner made the comment that spending has been out of control for decades. Clinton left a balanced budget, so how much in debit did President Bush put us that has continued into the Obama Administration via laws, tax cuts, unnecessary wars, and other special interest pork? I feel that the average American is tired of paying for the wealthy 2%'s tax cuts and lope holes.

    August 5, 2011 at 10:55 pm |
  11. Kaytee

    I find it remarkablly funny how after the debt ceiling debates were over until now, how the media was giving the tea party credit daily for bringing the congress and the pres to its knees with their demands. Now that we have this downgrade, they are all saying that its both parties fault. Ummm, if you they were responsible for that long public spectacle, then they are also responsible for the results of it.

    August 5, 2011 at 10:55 pm |
  12. Emily

    Have a wonderful evening & weekend, Anderson & bloggers!
    I hope to see you on the blog at 8pm, Monday. 🙂

    August 5, 2011 at 10:55 pm |
  13. Gloria, Brooklyn, NY

    I will be watching!

    August 5, 2011 at 10:55 pm |
  14. Nicole Netherlands

    Hi Starr Emily Everyone! very late to join, been following this amazing 360 with so much panel and information live and on twitter.
    This is historic. I hope this one (former) Republican campaigner will be right. And the politicians wil stay calm and join together.
    Now this is a real mess, the economy in Europe is blowing up in our faces, and this to may have consequences.
    Since it is mostly an world [global] economy ;(

    I hope to be with you all, live again some day, was good yesterday hope the show will be live on CNNi come monday when it moves to 8

    August 5, 2011 at 10:54 pm |
    • Emily

      Hi Nicole!
      It's great to see you.
      I think it was a very informative show tonight about the S&P, etc.
      I know that America will make a comeback, to a +AAA rating again one day! 🙂

      August 5, 2011 at 10:57 pm |
      • Nicole Netherlands

        Have a good weekend!

        August 5, 2011 at 10:59 pm |

    I am appalled at the arrogance of Standard & Poor's. These people are greatly repsonsible for the financial collapse of 2008...they (together with Fitch and Moody) stamped some $3 Trillion of MBS's and CDO's ...all loaded with junk mortgages...with AAA ratings! Trillions of dollars were lost worldwide because of their negilgene and malfeasance...and GREED!....and now they have the nerve to question the public debt of the United States?
    These people are traitors!

    August 5, 2011 at 10:54 pm |
    • Ken - Las Vegas NV

      No the arrogance of the newly elected representatives in congress not S & P.

      August 5, 2011 at 10:57 pm |
  16. lisal -canada

    this most certainly COULD have been controlled – the extra anxiety and uncertainty generated during a most tumultuous economic deadline was simply pushed too far despite repeated warnings – and the outcome was negative – why is that a surprse??

    August 5, 2011 at 10:53 pm |
  17. Grant

    Good night everyone please have faith in the decency of America. When we meet again on monday well rested and ready to tackle the problems of our country our nation will walk with its head held high. Washington answer to us and there will be answers.

    August 5, 2011 at 10:53 pm |
  18. Paula, Colorado

    Effective leadership isn't just passing blame around–it is working from the present in a positive direction.

    August 5, 2011 at 10:52 pm |
  19. vic , nashville ,tn

    Good night see you all on Monday new time

    August 5, 2011 at 10:51 pm |
  20. Ken - Las Vegas NV

    I think there will be massive changes in congress come 2012. If there isn't shame on us !!!!!

    August 5, 2011 at 10:51 pm |
  21. Dave

    Obama has played this perfectly, if they agreed an the 4b original plan this would have never happened, The blame game has yet to begin.

    August 5, 2011 at 10:51 pm |
  22. vic , nashville ,tn

    Mitt Romney comments another political statement I will ignore that

    August 5, 2011 at 10:50 pm |
  23. Gloria, Brooklyn, NY

    Don't blame it on Obama. The President is concern that we get out of this mess. "You got the power; take the lead!"

    August 5, 2011 at 10:49 pm |
  24. Jack Spar

    After the Debt Ceiling squabble, nobody in the world is unaware of what's going on. What will S&P accomplish: upstage peers and pressure them to follow suit, reverse all of the Quant. Easing since the Bush admin., start a massive sell-off now that we're out of options. If there was a time for a few to sacrifice for the many, this is it!

    August 5, 2011 at 10:47 pm |
    • Emily

      The fact that S&P downgraded, could be very positive for America as far as investments, etc.
      There are likely to be more people putting money into stocks, etc. well, they've been a quite a roller-coaster as of late, it's a great time for people to buy im, and they can afford to now. It's not a good thing, politically, however.
      I think that at least someone (perhaps is was Ali V.) who said that tonight.

      August 5, 2011 at 10:54 pm |
  25. Emily

    It doesn't feel like there's much political "leadership" all around, does it?
    (or is that just me?)

    August 5, 2011 at 10:47 pm |
  26. vic , nashville ,tn

    Nothing will change super committee will spend most of the time with lobbyist next 6 months to get turkey leg
    Obama must step up

    August 5, 2011 at 10:47 pm |
  27. Starr, formerly know as vincent

    I think i will say good night early everyone. I have had enough! I'm tired of now waiting for the other shoe to drop,

    The commentary on the blog is excellent, keep it up, i'm just too disgusted.

    I will you ALL a safe & peaceful weekend and pray very hard that True leadership may prevail after this, but based n the past i am doubtful.

    August 5, 2011 at 10:47 pm |
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