U.S. Slapped With ‘Negative’ Credit Outlook
Standard & Poor's, one of those ratings agencies that made a living signing off on toxic assets, has once again thrust itself into the spotlight by downgrading Uncle Sam's credit outlook from "stable" to "negative." As a consolation prize, S&P let us keep our AAA rating.
Standard & Poor’s, one of those ratings agencies that made a living signing off on toxic assets, has once again thrust itself into the spotlight by downgrading Uncle Sam’s credit outlook from “stable” to “negative.” As a consolation prize, S&P let us keep our AAA rating. — PZS
Your support matters…New York Times:
Many analysts were surprised by the market response to the revision, which cut the long-term United States debt rating to negative from stable. The S.&P. also affirmed the government’s AAA rating.
“The idea that the U.S. public finances are on an unsustainable trajectory is hardly new news,” economists from Capital Economics said in a research note. “Indeed, we warned that the U.S. might be downgraded, or at least put on negative watch, as far back as nearly two years ago.”
Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
Environment
More than half of discretionary spending goes to the military. Only a tiny fraction addresses the most urgent threat to our security.
Editorial Cartoons
Military
A new budget loophole will send Pentagon spending soaring even higher.
Politics
House GOP says Pentagon budget is safe—but social security and Medicare aren't.
The budget proposal offers a terrifying preview of what we can expect from Trump if he wins another four years in office.
Deficits averaging 4.8% of GDP are foreseen over the course of the coming decade; experts say anything above 3% is unsustainable.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.