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U.S. rating likely to be downgraded again: Merrill

Quote:

(Reuters) - The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.The trigger would be a likely failure by Congress to agree on a credible long-term plan to cut the U.S. deficit, the bank said in a research note published on Friday.A second downgrade -- either from Moody's or Fitch -- would follow Standard & Poor's downgrade in August on concerns about the government's budget deficit and rising debt burden. A second loss of the country's top credit rating would be an additional blow to the sluggish U.S. economy, Merrill said."The credit rating agencies have strongly suggested that further rating cuts are likely if Congress does not come up with a credible long-run plan" to cut the deficit, Merrill's North American economist, Ethan Harris, wrote in the report."Hence, we expect at least one credit downgrade in late November or early December when the super committee crashes," he added.The bipartisan congressional committee formed to address the deficit -- known as the "super committee" -- needs to break an impasse between Republicans and Democrats in order to reach a deal to reduce the U.S. deficit by at least $1.2 trillion by November 23.

http://www.reuters.com/article/2011/...79M2J120111023

Note: Sun Oct 23, 2011

Your thoughts and comments :DL

Quote:

Originally Posted by jimbuna (Post 1773426)

Your thoughts and comments :DL

Yes, :smug:

Less cut and paste gives more credibility :|\\

It is what he does. I don't understand it either. :nope:

At least it's not the New York Times this time...

Clearly this is all the Tea Party's fault for not allowing us to grow the deficit.

Quote:

Originally Posted by Platapus (Post 1773481)

It is what he does. I don't understand it either. :nope:

It is enough to understand what is posted .... and you can read, that since others want to have fun at my expense, it is quite another...

Quote:

Originally Posted by jimbuna (Post 1773470)

Less cut and paste gives more credibility :|\\

Everything is not about this, we have gone through earlier ... previously publisher, I can choose to make it easy or hard for me....and has nothing to do with credibility, rather different motives which only you can collateral.

Quote:

Originally Posted by August (Post 1773498)

At least it's not the New York Times this time...

:up:

Quote:

Originally Posted by magicstix (Post 1773530)

Clearly this is all the Tea Party's fault for not allowing us to grow the deficit.

It is the fault of political extremism on both sides and an unwillingness to work together. Both sides are guilty of pandering to the most extremes of the party.

Quote:

Originally Posted by mookiemookie (Post 1773686)

It is the fault of political extremism on both sides and an unwillingness to work together. Both sides are guilty of pandering to the most extremes of the party.

Its the fault of government spending money it doesn't have.