I didn’t realize that anyone paid attention to the ratings agencies like S&P after they rated trillions of junk mortgage securities as AAA.
The REAL news in this article is that the U.S. will be downgraded.
Especially since Boneheads plan or Reids plan do not address the root cause. Nor does it take immediate concrete steps to address out of control spending. S&P does not rate “phantom cuts”
..it is never good for the people who are destroying our economy to be the ones to “save” it....
The stimulus was a fraud. Why is it a part of our budget baseline?
Get rid of it, thats 800 billion.
Rating Sovereign debt?
I thought the “markets” determined interest rates, not a rating agency.
Absent Obozo, the U.S. is still a very strong nation.
Ping
So, whatever they say they’re cutting will be less the increase in debt payments because of higher interest.