S&P Cuts U.S. Ratings Outlook to Negative - WSJ.com

Fiscal deterioration in the US is so severe that the credit rating agencies have put the credit rating outlook of the USA on negative. This implies a 1 in 3 chance of an actual credit rating downgrade. No surprise to me and should be no surprise to anyone else if the US gets downgraded and the credit worthiness of the nation continues to deteriorate. The nation's central government, through the making magnificent promises to its citizens, have covenanted massive payments to the 'something-for-nothing' crowd that seem to have convinced themselves that if they are born on this certain piece of soil, that they deserve a certain level of income and lifestyle financed by a small sliver of others.....

In explaining its decision to put the U.S. credit rating on negative watchm S&P said the U.S. deficit "ballooned" to more than 11% of GDP in 2009 from a range of 2% to 5% from 2003 to 2008. It noted the gap between both Republicans and Democrats about how to cut the deficit "remains wide." Even if an agreement is found between both sides, "there is a reasonable chance that it would still take a number of years before the government reaches a fiscal position that stabilizes its debt burden," S&P said.

Best of luck. This will not end pretty. Socialism never works no matter what the country is that engages in it.

Here one of the symptoms of the great American disease where the leech class lives off the others by getting the leviathan to is it evil work. The leviathan, that gains power as more-and-more leeches become dependent upon the blood of others is happy to accommodate to keep their new serfs in line.....



S&P Cuts U.S. Ratings Outlook to Negative - WSJcom