New York, New York--Following news that the federal government will spend $30,500 per household in 2010, a record spending pace not seen since World War II, the credit rating agency Moody's Investors Service officially downgraded its rating of President Obama's s**t to "stinks."The news came as a shock to investors worldwide, as the popular wisdom had long been that Obama's s**t "just didn't stink," in the words of one international investor.
A spokesman for Moody's said the new lower rating of "toilet grade" was required by an analysis of Obama's budget, which shows a level of federal borrowing that will cause the national debt to double over the next decade.
Associated report: Heritage Foundation; associated articles: Wall Street Journal; Washington Times; Wall Street Journal 1; Bloomberg
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