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Re: S&P Cuts US Rating to AA+

By: clo in FFFT | Recommend this post (3)
Sat, 06 Aug 11 6:17 AM | 47 view(s)
Boardmark this board | Food For Further Thought

Msg. 31261 of 65535
(This msg. is a reply to 31256 by weco)
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Those tea baggers should feel very proud...! clo

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poorâ€™s to downgrade the rating of US debt from its current AAA value.

Officials reasons given will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction.

A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

The official was unsure if the bond rating would be AA+ or AA.

http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html

DO SOMETHING!

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The above is a reply to the following message:

S&P Cuts US Rating to AA+
By: weco in FFFT
Sat, 06 Aug 11 4:10 AM

Msg. 31256 of 65535

Monday will be a killer.... There goes Europe, Aus, Asia... Attaboy Bushies!

United States loses AAA credit rating from S&P

NEW YORK | Fri Aug 5, 2011 8:19pm EDT
Aug 5 (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.

S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.

U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.

The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months. (Reporting by Walter Brandimarte; Editing by Jan Paschal)

http://www.reuters.com/article/2011/08/06/usa-downgrade-sp-idUSN1E7741TJ20110806

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