US Credit Rating Downgraded to AA+

Don’t worry, they’re still in the same boat as China, Japan, Kuwait, Spain and Saudi Arabia.

For the first time in history, the US credit rating has been downgraded a notch from AAA to AA+. Major ratings agency Standard and Poor announced the decision Friday citing the government's budget deficits and rising debt burden. Actually they announced it twice, after a $2 trillion error was found in their initial report released earlier in the day. In an enlightening statement, S&P described the outlook on the new U.S. credit rating as “negative.” U.S. Treasury bonds were long considered the safest in the world, and had a AAA rating since 1941. Don't worry Obama, we're sure this won't come up at all in the 2012 elections.