The United States government needs to take steps to preserve its top AAA-rating...
..."It is very important for the credit standing of the United States that the Congress considers very carefully what the fiscal commission proposes," John Chambers, chairman of S&P's sovereign rating committee, was quoted as saying.
"It is very important for Congress to take the required steps."
S&P...has repeatedly warned about the gigantic deficit and the debt burden in the world's biggest economy, calling it a challenge for the government.
...the U.S. does not have unlimited fiscal flexibility and the best-case scenario for the U.S. would be for its debt-GDP ratio to peak at around 80 percent, although there was a chance it could exceed 100 percent.
...On Tuesday, S&P cut Ireland's long-term rating by one notch to 'AA-', the fourth highest investment grade, and assigned the country a negative outlook saying the cost to the government of supporting the financial sector had increased significantly.
Reuters
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8/28/10
USA, AAA?
Labels:
Economic Ethics,
Ratings
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