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United States Loses S&P AAA Credit Rating

Posted by timothy on from the don't-worry-the-next-19-generations-won't-mind dept.

oxide7 writes with this excerpt from the International Business Times: "The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday in an unprecedented 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 the government's budget deficits and rising debt burden. The move is likely to raise borrowing costs eventually for the American government, companies and consumers."

2 of 1,239 comments (clear)

  1. Re:WTF that wasn't supposed to happen!? by Opportunist · · Score: 3, Funny

    Just spending cuts? No problem. Cut military spending and economy subsidiaries and the budget is on track.

    Satisfied?

    --
    We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
  2. AAAAA+ by sakdoctor · · Score: 4, Funny

    Would lend to again