S&P goes negative

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?