US warned on top credit rating by Standard & Poor's (BBC)

[eppur_se_muova]

The US has been warned that the credit rating on its government debt could be cut by Standard & Poor's.

S&P is concerned that Democrats and Republicans will not be able to agree a plan to reduce the growing US deficit.

It has downgraded its outlook from stable to negative, increasing the likelihood that the rating could be cut within the next two years.

The US Treasury responded that S&P had underestimated its ability to tackle the national debt.

"Because the US has, relative to its 'AAA' peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable," the agency said in a statement.
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more: http://www.bbc.co.uk/news/business-13118834




Hope all those Wall Street CEOs who plundered the economy have their fortunes in other currencies ... or they'll find out they've soiled their own beds and now have to lie there.

[upi402]

1. I hope this is not shocking news to financiers around the world

If it isn't 'known' information, I am worried!

Somehow this will be played as a Democrat problem because entitlements need to be cut to pay for tax cuts for the banksters who robbed their own banks, then our treasury..