Quote:
Originally Posted by buckman
S&P just lowered the US rating to "negative".  This is the big boys hitting Obama over the head. |
Obama?
Try the entire government, including the GOP.
And to be clear (where's the fun in that?) they changed the OUTLOOK, not the rating from stable to negative, meaning the OUTLOOK is for us to drop from AAA/A-1+.
Which means, not much.
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.
Basically, fix the budget, fix the outlook.