But wait. The economy is getting better. Things are looking up. We are getting our fiscal affairs in order. Hail Obama. All Hail.
The U.S., lacking a plan to contain $1 trillion deficits, faces the prospect of another rating cut in six to 24 months depending on the outcome of November elections, according to John Chambers of Standard & Poor’s.
America has had an AA-plus rating with a negative outlook since Aug. 5 when the New York-based unit of McGraw-Hill Cos. stripped the nation of its AAA ranking for the first time, citing the government’s failure to agree on a path to reduce deficits. The U.S. has a one-in-three chance of another downgrade, Chamber said during a recent S&P sponsored Webcast.
Read more: S&P's Chambers Warns: US Faces Another Downgrade Without Budget Plan
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
That's Obama for you spend, spend, and spend some more. Then try and tax your way out of it.
They'll be continued downgrades until Odumbass is voted out. You can't fix a spending addiction through taxation. Over 1,100 days have passed since the Democratically controlled Senate has passed a Budget.
Post a Comment