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

Gerald · 10-23-11, 03:01 PM

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

Jimbuna · 10-23-11, 03:40 PM

Your thoughts and comments

Gerald · 10-23-11, 03:45 PM

Quote:

Originally Posted by jimbuna

Your thoughts and comments

Yes,

Jimbuna · 10-23-11, 03:47 PM

Thought so

Gerald · 10-23-11, 03:52 PM

Right,

Jimbuna · 10-23-11, 04:39 PM

Less cut and paste gives more credibility

Platapus · 10-23-11, 04:48 PM

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

August · 10-23-11, 05:38 PM

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

Oberon · 10-23-11, 06:42 PM

Yeah....

magicstix · 10-23-11, 07:09 PM

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

Gerald · 10-23-11, 07:14 PM

Quote:

Originally Posted by Platapus

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

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...

Gerald · 10-23-11, 07:19 PM

Quote:

Originally Posted by jimbuna

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.

Gerald · 10-23-11, 07:20 PM

Quote:

Originally Posted by August

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

mookiemookie · 10-24-11, 07:27 AM

Quote:

Originally Posted by magicstix

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.

CaptainHaplo · 10-24-11, 08:12 AM

Quote:

Originally Posted by mookiemookie

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.

10-23-11, 03:40 PM	#2
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,473 Downloads: 63 Uploads: 13	Your thoughts and comments __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

10-23-11, 03:47 PM	#4
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,473 Downloads: 63 Uploads: 13	Thought so __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

10-23-11, 03:52 PM	#5
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	Right, __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie

10-23-11, 04:39 PM	#6
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,473 Downloads: 63 Uploads: 13	Less cut and paste gives more credibility __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

10-23-11, 04:48 PM	#7
Platapus Fleet Admiral Join Date: Oct 2006 Posts: 19,360 Downloads: 63 Uploads: 0	It is what he does. I don't understand it either. __________________ abusus non tollit usum - A right should NOT be withheld from people on the basis that some tend to abuse that right.

10-23-11, 05:38 PM	#8
August Wayfaring Stranger Join Date: Apr 2005 Location: Massachusetts Posts: 23,197 Downloads: 0 Uploads: 0	At least it's not the New York Times this time... __________________ Flanked by life and the funeral pyre. Putting on a show for you to see.

10-23-11, 06:42 PM	#9
Oberon Lucky Jack Join Date: Jul 2002 Posts: 25,976 Downloads: 61 Uploads: 20	Yeah....

10-23-11, 07:09 PM	#10
magicstix Captain Join Date: Aug 2011 Location: Nuclear submarine under the North Pole Posts: 481 Downloads: 1 Uploads: 0	Clearly this is all the Tea Party's fault for not allowing us to grow the deficit.