S&P Affirms Reduced Rating Of Long-term US Debt
doofiegirl POTL~PWCM~JLA
2012/06/10 00:14:50
WASHINGTON (AP) — The rating agency that downgraded the U.S. government’s long-term credit rating last year has reiterated its assessment and its negative outlook. It says U.S. political leaders aren’t addressing the federal debt burden. Standard & Poor’s said Friday that it’s keeping its rating of U.S. long-term debt at “AA+.” 
“We believe that political polarization has increased in recent years,” the S&P; said, citing the failure of last year’s deficit-reduction “supercommittee” to reach agreement.
S&P; said it expects the government’s debt to rise, as a percent of the economy, from 77 percent in 2011 to 83 percent in 2012 and 87 percent by 2016. That’s below the S&P;’s forecast last August, when it downgraded the United States.
“We believe that political polarization has increased in recent years,” the S&P; said, citing the failure of last year’s deficit-reduction “supercommittee” to reach agreement.
S&P; said it expects the government’s debt to rise, as a percent of the economy, from 77 percent in 2011 to 83 percent in 2012 and 87 percent by 2016. That’s below the S&P;’s forecast last August, when it downgraded the United States.
Read More: http://www.impeachobamacampaign.com/sp-affirms-red...
another downgrade is on the way ..
you can't continue to borrow, borrow, borrow ..
and not expect the bill to come due ..
(anyone else doing this in real life ..
we'd already be charged with Kiting .. and cooling our heels in a cell)
The time will arrive when foolish investors in all this debt will realize they're not gonna get repaid. That's the squeeze-play coming to finish off Amerika.