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The head of Standard & Poor's sovereign ratings said Sunday that the agency may downgrade the U.S. again.
"Given the economic and political situation in the U.S., which will we see, an upgrading back to AAA or further downgrades?" Fox News' Chris Wallace asked David Beers.
"We have a negative outlook on the rating and that means we think that the risk currently for the rating are to the downside," Beers said.
"The key thing is, yes, entitlement reform is important because entitlement is the biggest -- are the biggest component of spending and they are the part of spending where the cost pressures are greatest," Beers replied.
Originally posted by Romekje
Ratings are overrated...
Originally posted by Iamonlyhuman
I wonder why they are commenting on entitlement reform and not military spending?
Originally posted by CENSORED
yup they are overrated to the investers that is, but even if investers dont take them seriously does not mean it wont have an effect on mainstreet.edit on 7-8-2011 by CENSORED because: (no reason given)