Remember the song... Two Out Of Three Ain't Bad

On a tip from ED KILBANE

Not in this case. 

This is the second relative of Obama's caught living in the United States illegally.

This was the first

In this Nov. 24, 2009, photo, President Obama's aunt, Zeituni Onyango, gives an interview in her home in Boston. A U.S. immigration court has granted her asylum allowing her to stay in the country, her attorneys announced Monday, May 17, 2010, in Cleveland.

Zeituni Onyango  (Obama's aunt)  came to America illegally in 2000 and was ordered by a judge deported in 2004 but miraculously since this story came to light she can now live in the United States. For an additional kick in the teeth she has been living on welfare and Section 8 housing. So not only is she here illegally, we the taxpayers, are paying to support her!

Nice coat, handbag, cane, wheelchair...Oh...and is that two gold rings or three?
Welfare must be paying pretty good.

This is the second relative

No lie he actually said this.






Onyango Obama (his first name is Obama's aunt's last name?) was arrested last week in Massachusetts for DWI. He is Obama's uncle who also happens to be here illegally. In 2000 he was  evicted from his $500 a month apartment for not paying the rent. So he also is collecting welfare checks and Section 8. 


The president refers in his memoir "Dreams from My Father," about retracing his roots and his 1988 trip to Kenya, to an Uncle Omar. 


In "Dreams from My Father," the president mentions photographs of his Uncle Omar, "the uncle who had left for America twenty-five years ago and had never come back." He also discusses a Kenyan expression about getting lost, meaning to not see someone in a while or to move away and stop communicating with relatives — "like our Uncle Omar, in Boston."


 Like with everything Obama says and does you have to read between the lines. "Left for America" means he came here illegally something he conveniently left out. When "Omar" came here he promptly changed his name. Something the Obama clan has a propensity for.


Getting back to the two out of three ain't bad. Since two of his relatives are here illegally would he be a far stretch to speculate about  his own legality? A life shrouded in secrecy. A simple form such as birth certificate held under lock and key until Trump forced the issue. Is what he displayed his real birth certificate? I honestly don't know. 


I do know one thing. This guy is hiding something.




BTW the fools who voted for Obama wondering why he filed lawsuits against AL and AZ for trying to enforce the federal immigration laws no longer have to wonder. We're supposed to entrust Obama to defend and protect our border, when his own f------relatives are here illegally!    


 Talk about the fox watching the chicken coop.

Obama uncle held in US by immigration officials

By DENISE LAVOIE, AP Legal Affairs Writer – 15 hours ago

FRAMINGHAM, Massachusetts (AP) — President Barack Obama's uncle was stopped on suspicion of drunken driving, told police he planned to arrange bail through the White House and was being held without bail on an immigration detainer, authorities said Monday.

Onyango Obama was arrested last week in Framingham, about 20 miles (32 kilometers) west of Boston, after police said he made a rolling stop through a stop sign and nearly caused a cruiser to strike his sport utility vehicle.

Police said that after being booked at the police station, Obama was asked whether he wanted to make a telephone call to arrange for bail.

"I think I will call the White House," he stated, according to a police report filed in Framingham District Court.

Police said Obama, who's originally from Kenya and is the half-brother of the president's late father, pleaded not guilty Friday and was being held without bail on a detainer from U.S. Immigration and Customs Enforcement. In a court document, ICE said he had an earlier deportation or removal order.

His immigration status couldn't immediately be confirmed, but such orders are generally reserved for people living in the country illegally.

An immigration detainer, used by ICE to identify people in jail or prison who could be deported, is a request to another law enforcement agency to notify ICE before releasing the person from custody so ICE can arrange to take over custody.

A spokesman for ICE declined to comment on Obama's immigration case, and the White House had no comment.

The president refers in his memoir "Dreams from My Father," about retracing his roots and his 1988 trip to Kenya, to an Uncle Omar, who matches Obama's background and has the same date of birth.

Obama, 67, was charged with operating under the influence of alcohol, negligent operation of a motor vehicle and failure to yield the right of way.

Michael Rogers, a spokesman for Cleveland immigration attorney Margaret Wong, said Wong will represent Obama. He confirmed that Obama is the half-brother of the president's father and the brother of another relative, the president's aunt Zeituni Onyango, of Boston.

Onyango made headlines last year when she won the right to stay in the United States after an earlier deportation order. She came to the U.S. from Kenya in 2000 and was denied asylum by an immigration judge in 2004.

She stayed in the country illegally and was granted asylum last year by a judge who found she could be a target in Kenya not only for those who oppose the U.S. and the president but also for members of the Kenyan government.

In "Dreams from My Father," the president mentions photographs of his Uncle Omar, "the uncle who had left for America twenty-five years ago and had never come back." He also discusses a Kenyan expression about getting lost, meaning to not see someone in a while or to move away and stop communicating with relatives — "like our Uncle Omar, in Boston."

Framingham police said Obama was arrested Wednesday after he failed to stop completely at a stop sign and a police officer had to quickly apply his brakes to avoid hitting Obama's sport utility vehicle.

Officer Val Krishtal said in a written report that Obama slurred his speech and became argumentative after he was told that he was being stopped because he had failed to fully stop and yield to traffic.

"I explained to him that I narrowly avoided striking his vehicle, and he told me that he did not hear my tires screeching so I was not being accurate," Krishtal said in the report.

Obama originally told Krishtal he had nothing to drink but later said he had had two beers, Krishtal wrote in the report.

Krishtal said Obama failed several sobriety tests and blew a reading of 0.14 percent on a blood-alcohol breath test, which is above the state's legal driving limit of 0.08 percent.

The president's administration announced this month that it would allow many illegal immigrants facing deportation the chance to stay in the U.S. and apply for work permits and would focus on removing convicted criminals and people who might be national security or public safety threats.

Naturally the White House had no comment on this latest development.

Copyright © 2011 The Associated Press. All rights reserved.

Remember the song... Two Out Of Three Ain't Bad

Alarming article from USA Today

Minority babies almost the majority

Only 50.2% of babies under age 1 are white and not Hispanic, according to the 2010 Census — a sharp decline from 57.6% just 10 years earlier.

"We are almost at a minority-majority infant population," says Brookings Institution demographer William Frey, who analyzed the latest Census data. "We probably have passed it since the Census was taken" in April 2010.

• STORY: Census tracks 20 years of sweeping change

  
  

The number of states where minority babies dominate has doubled to 14 since 2000. The balance has tipped in big states such as New York, Florida, New Jersey and Georgia.

Minorities have been the majority in Texas and California nurseries for more than two decades. In Texas, the majority of people under age 47 are minorities, in California, under 52.

Steady growth in the number of young U.S. Hispanics who have more children than whites is shrinking the ranks of non-Hispanic whites.

The shift is dramatic in states such as Florida and Nevada, where whites are in the minority among those younger than 38. A decade earlier, whites were the majority in all age groups in Florida and in Nevada, among all those above age 3.

In rural areas, the number of white children declined by more than 1 million or almost 10% from 2000 to 2010, says Kenneth Johnson, demographer at the University of New Hampshire's Carsey Institute.

The number of young white women of child-bearing age is declining while there is an increase in minority women of child-bearing age, Johnson says.

In Georgia's Whitfield County, home of Dalton, the "Carpet Capital of the World," more than 59% of infants were minorities in 2010 compared with 38.4% in 2000.

The area's floor-covering industry has attracted so many Hispanics that the North Georgia Health District, based in Dalton, has brought in translators and prints materials in Spanish, says Jennifer King, public information officer.

The nationwide changes are redefining who is a minority and who is not.

"These little babies … by the time they get to be in their 20s and 30s, the current racial and ethnic categories … won't have anything close to the meaning that (they have) today," Frey says. "When they think about white majority, it'll be something in the history books."

This story was front page news in USA Today. There is no mention in the article the total of illegals "anchor babies" born here each year but I'm sure it is considerable. 

When the government turns a blind eye in order to grab votes for the politicians without looking at the long term consequences to a problem festering for decades, when they sue Arizona and Alabama for trying to protect their border, systemically the end result becomes the annihilation of the white race  in the United States. 

 

I see it all around me. Some will email me and call me a racist. My response is this. We have now reached the point where the government...repeat..government has been so accommodating we are about to hand this country over to the very illegals that broke our laws. If that is racism then I am a racist.

When the 14th amendment was enacted I'm sure the intention was not to give illegals a place to squat and drop thereby becoming American citizens.

The sad thing. The county as we know it is disappearing before our very eyes,

 invaded by foreigners, and no one seems to give a damn.

Alarming article from USA Today

This would have gotten me a visit from the Secret Service

Trust me... I know.

On a tip from Robert Sweet

 I think this is a GREAT letter and sure took some moxie to write it.

Good thing we have some really brave people still around.

 FYI, this has been checked via Snopes, who contacted Mr. Guthrie, who confirmed he did indeed write & send this letter to Ms. Pelosi.  His credentials are impressive!

Verify with Snopes if you like:

http://www.snopes.com/politics/soapbox/guthrie.asp

Check his credentials. Then read his letter to Pelosi!

 

Born St. Louis , Missouri , August 21, 1944 

Bar Admissions:

North Carolina , 1969

 

 U.S. District Court, Eastern, Middle and Western Districts of North Carolina , 1969

 

 U.S. Tax Court

 

 Fourth Circuit Court of Appeals

Education: Woodford College, 1966 A.B.

Mercer University, 1969 J.D.

Phi Alpha Delta

 Vice-Justice, District XIV, 1968 - 1969

 Professional Associations and Memberships:

 

North Carolina and American Bar Associations (Member, Sections on: Administrative Law; General Practice; Litigation)

26th Judicial District and North Carolina State Bar

Mecklenburg County Bar Association

American Association of Justice

 North Carolina Trial Lawyers Association

Captain, U.S. Army, 1969-1971, Vietnam

 National Defense Medal, 1969

Republic of Viet Nam Service Medal, 1970

Bronze Star Medals (2), 1971

Assistant District Attorney, Mecklenburg County , 1971 - 1974

 Charlotte Chamber of Commerce

Chairman, Board of Trustees Providence United Methodist Church

Board of Directors, Alexander Children's Home

Board of Directors, Charlotte Culinary Institute

Wofford Alumni Executive Council

Scoutmaster, Boy Scouts of America

 

Board of Directors, Boy Scouts of America of Mecklenburg County

Board of Directors, Girl Scout Council

 Life Member, National Eagle Scout Association

Life Member, Girl Scouts of America

 

Dear Ms. Pelosi:

I write to you out of utter disdain! You are as despicable and un-American as the traitor Jane Fonda.

I am a soon to be 65 year-old who has voted in every state and local election since 1966. I have voted for both Republicans and Democrats alike. I have worked on campaigns for both Republicans and Democrats, white and black. I served the country that I love in Vietnam, as my son did in the Middle East. I was awarded two bronze stars. I have been involved in politics since age 6 when my father was campaign manager for a truly great American Congressman, Charles Raper Jonas, who worked for his constituents and his country, and was to be admired, unlike you.

You obviously havent read the Constitution recently, if ever, the Federalist Papers, or even David McCulloughs book on John Adams. You ought to take the time while riding around in your government provided luxury executive jet to do just that. You represent Socialistic and even Marxist principals that our founding fathers tried to avoid when setting out the capitalistic republican form of government represented by our Constitution.

 I find it interesting that you and your husband are multi-millionaires with much of your fortune being made as a result of your public service. You have controlled legislation that has enhanced your husbands investments both on and off shore. At the same time you redistributed the wealth of others. Our system of a free market economy is being destroyed by the likes of you, Harry Reid, and now our President. You ride around in a Gulfstream airplane at the tax payers expense while criticizing the presidents of companies who produced something for the economy. You add nothing to the economy of the United States; you only subtract therefrom. 

I would like to suggest that you return to the city of fruitcakes and nuts and eat your husbands canned tuna and pineapple produced by illegal immigrants and by workers who have been excluded from the protection that 90% of the legal workers in the United States have.

I await your defeat in the next election with glee.

 Dont ever use the term un-American again for protesters who love this country and are exercising their rights upon which this country was founded. By the way, while I served in the Army, I was spit on by the same type of lunatics who support you and who you probably supported in the 60s and 70s. You are an embarrassment to all of us who served so that you would have the protected right of free speech to call us un-American. But at the same time, I have the right to write you to notify you that I consider you to be un-American, as do the majority of the people of this formerly great country. You are a true disgrace to most of the people who served this country by offering themselves for public service in the United States Congress.

 

I feel certain your aides will not share this letter with you, but I intend to share it with many.

Let's help this man fulfill his 'commitment' to Pelosi

by forwarding his thoughts to everyone in your address book!

This would have gotten me a visit from the Secret Service

Star Trek X The Search For Leadership

Have you ever got the feeling someone shoved a SanDisk thumb drive up the Democrats asses and when you press their nose this comes out...Its a Tea Party downgrade?

Star Trek X The Search For Leadership

Scare tactics backfire into a financial downgrade

The old adage.. actions speak louder then words... is true. But when the rhetoric is composed of words like:

 Armageddon, default, debt crisis, withholding social security checks, financial meltdown, etc, 





 combined with not following one directive from the Simpson-Bowles Commission (appointed by Obama) and throw in the Cut-Cap & Balance Bill presented by the House, dismissed by Democrats, is the reason we had downgrade. 

In roughly 31 months in office this guy has raised the debt ceiling 40%. After the debt ceiling bill passed we are looking at another $2.4 trillion added to the debt, the highest in the history of the country!

When Bush left office the national debt was $10.7 trillion. How much of that was related directly or indirectly to 911 I don't know. Nevertheless it was a staggering amount and if we were downgraded then I couldn't come up with a compelling argument against it.

Since March 1962, the debt ceiling has been raised 74 times, according to the Congressional Research Service. Both parties are to blame.

Why does Congress even bother to set a debt limit? In theory, the limit is supposed to help Congress control spending. In reality, it doesn't.

Every time the debt limit needs to be raised, lawmakers and the president are forced to take stock of the country's fiscal direction, which isn't a bad thing necessarily.

But the decision about how high to set the ceiling is divorced from lawmakers' decisions to pass spending hikes and tax cuts. It's also made after the fact, so it doesn't do much to pull in the purse strings.

That's why budget experts say it would be better to tie the debt limit decision to lawmakers' legislative actions.

That's why we need a balanced budget amendment..NOW!

Proving once again this administration has no clue.

Is it they can't see a problem, or they don't want to see it?

Scare tactics backfire into a financial downgrade

New Antiseptic

On a tip from Ed Kilbane

President Obama's approval ratings are so low now, Kenyans are accusing him of being born in the United States.

New Antiseptic

I Killed Bin Laden

A $50 – $75 million re-election campaign commercial for Barack Obama.

Check the release date of the movie. Must be just a coincidence?

Rep. King Wants Probe of Administration Help for Osama Movie

The Republican chairman of the House Homeland Security Committee wants the Pentagon and CIA to investigate reports that the Obama administration gave Hollywood filmmakers special early access to classified information on the military raid that led to Osama bin Laden's death.

The movie is reportedly due for release in October 2012, which Rep. Peter King, R-N.Y., notes is just a month before next year's elections.

(EVEN THAT WON'T SAVE HIM) 

In a letter to Defense Department Inspector General Gordon Heddell and CIA Inspector General David Buckley, King cites an August 6 New York Times report that Sony Pictures Entertainment, Inc. and movie director Kathryn Bigelow received "top-level access to the most classified mission in history" to produce a movie about the raid.

King argues that too many leaks of classified information regarding the raid already have occurred, citing reports of arrests of Pakistanis believed by local authorities to have assisted the CIA in the May 1 raid.

King wrote that participation by military and CIA officials in making a film about the raid is bound to increase such leaks and undermine the organizations' hard-won reputations as "quiet professionals" − reputations important for their continued operational success."

"And, the success of these organizations is vital to our continued homeland security," King said in the letter dated Tuesday but publicly released on Wednesday.

King also argued that the administration's "first duty" in declassifying material is to provide full reporting to Congress and the American people, in an effort to build public trust through transparency of government. 

"In contrast, this alleged collaboration belies a desire of transparency in favor of a cinematographic view of history," King said.

Among the questions King wants answered are: What consultations occurred among White House, Defense, and CIA officials on the idea of giving access to filmmakers, and will the film be submitted to the military and CIA for "pre-publication review?"

White House press secretary Jay Carney, during a briefing with reporters on Wednesday, dismissed King's assertions as "ridiculous."

"When people -- including you -- in this room are working on articles, books, documentaries, or movies that involve the president and ask to speak to an administration official, we do our best to accommodate them to make sure the facts are correct," Carney said. "That is hardly a novel approach to the media. We do not discuss classified information."

Carney also noted the challenges of fighting terrorism and said he hoped King's committee "would have more important things to discuss than a movie."

To borrow a line from Dennis Miller:

This guy is shakier then Mel Gibson at a Bar Mitzvah during an earthquake.

I Killed Bin Laden

The Dawn of a New Beginning

On a tip from Keith Grant

They're are few in the Republican party who step up to the plate and refuse to bunt the ball. Marco Rubio is one of them. Listen to what he has to say. Dead on point. I hope they select Rubio to give the keynote speech at the RNC convention.

This guy has a very promising future. New blood, just what we need.

The Dawn of a New Beginning

A Sign Of The Times

On a tip from Edward Kilbane

A Sign Of The Times

Axelrod on CBS

It won't say in the history books it was Bush's fault.

What did I say the other day about directing the blame elsewhere? This has become SOP with this administration. Yesterday the market was down about 350 when the soothsayer decided we needed a "pep talk". After the thrilling oration, which had all the sincerity of a Mel Gibson apology, dodging any responsibility, the market closed 635 in the hole. The sixth worse close of all time. Not to be deterred by these trivialities he was able to accommodate two more fund raisers into his tight schedule. 

One f------ moron.

Of course he was on CBS when he said this so consequently his remark went mostly unchallenged.

Strangely in the S&P report there was no mention of the Tea Party. Probably because they never spent one red cent of the $14.6 trillion we owe. Essentially the downgrade occurred because the spending cuts were not deep enough. Who more then anyone is against government spending? Take a wild guess. Obama wanted a "clean" bill before him for a debt ceiling increase with no strings attached. He would have gotten it if the House didn't go Republican in 2010.

Tea Party Trashing: Dems Blame Tea Party For Credit Downgrade

If your going to dream up a lie at least make it plausible instead of diametrically opposed to the facts.

The true story 

☟

S&P Blames Inept Congress for Downgrade

BOSTON (TheStreet) -- Standard & Poor's rating analysts placed the blame for the U.S. sovereign credit rating downgrade -- to AA+ plus from its highest rating, AAA + squarely at the feet of the nation's political leaders, with the nation's slowing economic growth and spiraling debt also playing a role, in a conference call this morning.

"The primary focus remained on the current level of debt, the trajectory of debt as a share of the economy and the lack of apparent willingness of elected officials as a group to deal with the U.S. medium term fiscal outlook," formed the basis for S&P's action, the firm said in a statement Friday, a standpoint that was reiterated on the call by S&P analysts.

"The downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges," a weakening that has accelerated since S&P telegraphed its concerns about the nation's fiscal health when it assigned a negative outlook to the nation's then AAA rating on April 18.

John Chambers, head of S&P's sovereign ratings committee, in New York, and David Beers, global head of S&P's sovereign and international public finance ratings, in London hosted the conference call Monday morning.


Put in simple terms on a tip from Ed Kilbane



If you want to understand the magnitude of the recent debt and budget reduction actions agreed to by Congress and the President, this non-partisan example really puts it in perspective.

U.S. income: $2,170,000,000,000

Federal budget: $3,820,000,000,000

New debt: $ 1,650,000,000,000

National debt: $14,271,000,000,000

Recent budget cut: $ 38,500,000,000 (about 1 percent of the budget)

It helps to think about these numbers in terms that we can relate to. Therefore, let's remove eight zeros from these numbers and pretend this is the household budget for the fictitious Jones family:

Total annual income for the Jones family: $21,700

Amount of money the Jones family spent: $38,200

Amount of new debt added to the credit card: $16,500

Outstanding balance on the credit card: $142,710

Amount cut from the budget: $385






Sounds like a foreboding prophecy straight out of the bible.


The Obama Principle (election)

We are inclined to believe those whom we do not know because they have never deceived us. - Samuel Johnson

Axelrod on CBS

Missing you

I woke up in the middle of the night in a cold sweat. I started shaking uncontrollably and couldn't figure out what was wrong. This nightmare has got to stop. The same one over and over.  A glass of cold water helped to settle me down a little. Then it dawned on me. Sometime in January 2009, maybe around the same time the new president was sworn in, is when I think it happened. Where are they? My concern deepened to torment.

How can one sleep when a whole organization turns up missing? Nothing... nada... like they vanished in thin air. You would have thought someone would have filed a missing persons report, something. What is even more bizarre is an organization of this size turns up missing and there is no report, no story, zilch, from the MSM.

What happened to Code Pink?

Have a heart. Look at all these people in the photos.

Where are they? 
Doesn't anyone care?


If you spot them please report it to your local authorities so I can get a good night's sleep.

Their so lovable. Warms your heart doesn't it?

Why pay retail when you can get it from Obama wholesale

What happened to the rallying cry "Blood for oil" 

Stomping Bush

A member advising Condi... if we could find her she could do the same for Hillary

Ah...Cindy Sheehan the Patron Saint of Dementia is also missing. Doubly dangerous since she is unable to find her way home.  Love the scarf. Shown with her friend Hugo. Picture taken shortly after Sean Penn left.

This is Medea Benjamin. Real name Susan.  Co-Founder of Code Pink. She may not be missing.  Might have moved back to Cuba.  Then I remembered.  Fidel had her deported for railing against the government. True story.

Thank God for Obama the stalwart of truth telling.

This is all very strange to me. Obama promised to get us out of Iraq and Afghanistan before he was elected president and close down that "waterboarding" Gitmo.  As it turned out all three are still in business sort of speak. In fact he even sent an additional 38,000 troops to Afghanistan. Just to add a little frosting on the cake he got us in another war with Libya. Well, its not really a war, they call it kinetic military action. I'm not the brightest guy around so I had to look up kinetic. It means:  depending on movement for its effect. Now I got it. When you pull the trigger, the bullet travels (movement) through the barrel and the (effect) is someone dies. Who knew?

I think the disappearance of Code Pink right after the inauguration of Obama is just a coincidence. If you know of their whereabouts please report it immediately.

I could use a good night's sleep.

Hope I don't get a limp wrist.

Missing you

Rock bottom...U.S. Loses AAA Credit Rating

For the first time in history the United States has lost its sterling credit rating.

Winning the future?

Although the Democrats have been in control of Congress up  until Nov 2010, and still in control of the White House and Senate today. It will again be time to redirect the blame elsewhere.

"The action by S&P reaffirms the need for a balanced approach to deficit reduction that combines spending cuts with revenue-raising measures like closing taxpayer-funded giveaways to billionaires, oil companies and corporate jet owners," Reid said.

The walls come tumbling down and he still doesn't get it.

Credit rating agency Standard & Poor's on Friday lowered the nation's AAA rating for the first time since granting it in 1917. The move came less than a week after a gridlocked Congress finally agreed to spending cuts that would reduce the debt by more than $2 trillion -- a tumultuous process that contributed to convulsions in financial markets. The promised cuts were not enough to satisfy S&P.

The drop in the rating by one notch to AA-plus was telegraphed as a possibility back in April. The three main credit agencies, which also include Moody's Investor Service and Fitch, had warned during the budget fight that if Congress did not cut spending far enough, the country faced a downgrade. Moody's said it was keeping its AAA rating on the nation's debt, but that it might still lower it.

Speaker John Boehner issued a statement saying that the downgrade is "the latest consequence of overspending by Washington."

One of the biggest questions after the downgrade was what impact it would have on already nervous investors. While the downgrade was not a surprise, some selling is expected when stock trading resumes Monday morning. The Dow Jones industrial average fell 699 points this week, the biggest weekly point drop since October 2008.

"I think we will have a knee-jerk reaction on Monday," said Jack Ablin, chief investment officer at Harris Private Bank.

But any losses might be short-lived. The threat of a downgrade is likely already reflected in the plunge in stocks this week, said Harvey Neiman, a portfolio manager of the Neiman Large Cap Value Fund.

"The market's already been shaken out," Neiman said. "It knew it was coming."

One fear in the market has been that a downgrade would scare buyers away from U.S. debt. If that were to happen, the interest rate paid on U.S. bonds, notes and bills would have to rise to attract buyers. And that could lead to higher borrowing rates for consumers, since the rates on mortgages and other loans are pegged to the yield on Treasury securities.

However, even without an AAA rating from S&P, U.S. debt is seen as one of the safest investments in the world. And investors clearly weren't scared away this week. While stocks were plunging, investors were buying Treasurys and driving up their prices. The yield on the 10-year Treasury note, which falls when the price rises, fell to a low of 2.39 percent on Thursday from 2.75 percent Monday.

A study by JPMorgan Chase found that there has been a slight rise in rates when countries lost an AAA rating. In 1998, S&P lowered ratings for Belgium, Italy and Spain. A week later, their 10-year rates had barely moved.

The government fought the downgrade. Administration sources familiar with the discussions said the S&P analysis was fundamentally flawed. They spoke on condition of anonymity because they weren't authorized to discuss the matter publicly. S&P had sent the administration a draft document in the early afternoon Friday and the administration, after examining the numbers, challenged the analysis.

S&P said that in addition to the downgrade, it is issuing a negative outlook, meaning that there was a chance it will lower the rating further within the next two years. It said such a downgrade, to AA, would occur if the agency sees smaller reductions in spending than Congress and the administration have agreed to make, higher interest rates or new fiscal pressures during this period.

In its statement, S&P said that it had changed its view "of the difficulties of bridging the gulf between the political parties" over a credible deficit reduction plan.

S&P said it was now "pessimistic about the capacity of Congress and the administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics anytime soon."

Senate Democratic Leader Harry Reid said the credit downgrade showed the need for a "balanced approach to deficit reduction that combines spending cuts with revenue-raising measures."

GOP Rep. Jack Kingston has called on Congress to reconvene to fix the debt crisis, saying the downgrade "confirms my belief that the debt ceiling increase signed into law this week does not go far enough to change the nation's fiscal trajectory."

The Federal Reserve and other U.S. regulators said in a joint statement that S&P's action should not have any impact on how banks and other financial institutions assess the riskiness of Treasurys or other securities guaranteed by the U.S. government. The statement was issued to make sure banks did not feel that the downgrade would affect the amount of capital that regulators require the banks to hold against possible losses.

Before leaving for a weekend at Camp David, President Barack Obama met with Treasury Secretary Timothy Geithner in the Oval Office late Friday afternoon.

The downgrade is likely to have little to no impact on how the United States finances its borrowing, through the sale of Treasury bonds, bills and notes. This week's buying proves that.

"Investors have voted and are saying the U.S. is going to pay them," said Mark Zandi, chief economist of Moody's Analytics. "U.S. Treasurys are still the gold standard." He noted that neither his parent organization, Moody's, nor Fitch, the other of the three major rating agencies, have downgraded U.S. debt.

Japan had its ratings cut a decade ago to AA, and it didn't have much lasting impact. The credit ratings of both Canada and Australia have also been downgraded over time, without much lasting damage.

"I don't think it's going to amount to a lot," said Peter Morici, a University of Maryland business economist.

Still, he said, "The United States deserves to have this happen," because of its clumsy handling of fiscal policy.

The Associated Press contributed to this report.

Rock bottom...U.S. Loses AAA Credit Rating