April 18, 2011 - 7:32 am
Standard & Poor’s on America’s future — it’s bad:
“Because the U.S. has, relative to its ‘AAA’ peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable,” the agency said in a statement.
The Federal Government still enjoys S&P’s coveted AAA rating, but for how much longer?
No bank and no household could get away with running such debit and maintain a good credit rating so, why should the U. S. government. The entire ratings systems domestically and globally should be following the lead of the S&P…at the very least.
Stupid should hurt and that is directed to the ‘people’ of this nation! Their self serving and irresponsibile party is coming to an end and the consequences are around the corner!
Good for the S&P though, they should have down rated the AAA also.