Question of the Week: Do you have fears for your financial future as a result of the recent credit downgrade?

Osky News

Oskaloosa, Iowa- Last week, we asked you if you supported the debt ceiling proposal. 42 residents responded with 28 residents (67%) saying No, 7 residents (17%) saying Yes, and 7 residents (16%) saying Unsure. The Question of the Week Poll is unscientific and does not reflect the view of Osky News.

This week, we stay on the same topic. Late last week, Standard and Poor’s (S&P) downgraded the US Credit rating despite the recent raising of the US Debt Ceiling. As a result, the credit rating now stands as AA+, compared to its previous AAA rating. Immediately after the downgrading, various political leaders began issuing statements. Presidential Candidates began attacking the Obama Administration placing blame for the downgrade on the President. White House advisers began defending their administration saying that the S&P data was skewed.

Those who have fears cite the downgrade. They say that the downgrade shows that investors are leery about investing in the United States, and as a result, the Stock Market will drop steadily. Those who don’t have fears also cite the downgrade. They say that the data S&P used was skewed and cite previous ratings in which S&P gave AAA ratings to some financial institutions that later went on to have problems.

Now it’s your turn to decide. Vote in our online poll. The poll will be open until 9:00 PM next Sunday when we will close the poll and release the final results. If you have any questions, please visit us on our Facebook Page or e-mail us at info@oskynews.org.