Standard & Poor’s removed the United States government from its list of risk-free borrowers on Friday night, citing concern about the rising burden of federal debt. The rating on the country’s long-term debt was lowered one notch, from AAA to AA+, with a negative outlook.
This by one of the entities who rated the junk mortgages as great has rated the US as negative and with future potential downgrades. This is what we get for having economists. They just was to spend more!
This is truly a sad day. Perhaps the voters may wake up. Perhaps not.
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