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NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.
S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.
U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.
With the clock ticking, Obama warned of the dire consequences of failing to raise the debt ceiling and said the U.S. is in danger of losing its AAA credit rating over political squabbling.
“We could lose our country's AAA credit rating; not because we didn't have the capacity to pay our bills -- we do -- but because we didn't have a AAA political system to match our AAA credit rating,” he said.blogs.abcnews.com...
Ratings agencies Moody's and Fitch both maintained the U.S.'s AAA credit rating following the debt deal.
Originally posted by ExPostFacto
Weren't they all clamoring on losing their credit rating. So they pass this bill and lose it anyway. Smart people. Maybe the investors saw that the country will continue going further and further in debt.
Originally posted by CaticusMaximus
reply to post by burdman30ott6
All according to plan. Third world countries dont get to have triple A ratings. Thats where we are headed.