United States loses prized AAA credit rating from S&P | Reuters

United States loses prized AAA credit rating from S&P | Reuters.

Although the government made a debt deal before deadline, S&P still downgraded the US ratings. I think that this is more a political result than an actual rating based on the capability of the US to perform and maintain a high rating.

The S&P calculation of $4 trillion in savings required to maintain good finances is likely an exaggerated value. Although decreasing the debt by $4 trillion will be great for the economy, in this recovery time, it is not possible.

Downgrading the US will only make recovery more difficult, and will probably result in a further loss of jobs.

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About alonrishi

Economist at the Central Bank of Trinidad and Tobago Graduate of Florida Atlantic University (MS. Economics with a track in Finance, BA Business Economics) Interests in business, technology, automotive design and engineering, travel, food, amateur photography, and gaming. @alonrishi

Posted on August 6, 2011, in Business, US, World. Bookmark the permalink. 1 Comment.

  1. Hi, its fastidious piece of writing on the topic of media print, we all know media is
    a wonderful source of facts.

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