Sunday, August 7, 2011

S&P AA+ rating on U.S. Sovereign Debt not Low Enough

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On Friday evening Aug 5th Standard & Poor's downgraded U.S sovereign debt from AAA to AA+ with a negative outlook. By raising the debt ceiling Congress and Obama had hoped to avoid a downgrade. Ironically it was their very actions that caused the downgrade to happen.




SchiffRadio.com
at 4:47 PM
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1 comment:

  1. UnknownAugust 8, 2011 at 6:27 AM

    It is absolutely foolish to think the rating went down for any reason other than our inability to raise revenue.

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