William Katz:  Urgent Agenda

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WE'RE IN THE MONEY – NOT – AT 2:10 P.M. ET:  Standard & Poor's has some concern about the future of the United States.  Are you shocked?

NEW YORK (CNNMoney) -- Standard & Poor's lowered its outlook for the nation's long-term debt Monday, even as it reaffirmed the agency's top-tier rating for the U.S. economy.

S&P maintained its 'AAA/A-1+' credit rating on U.S. sovereign debt, saying the nation's "highly diversified" economy and "effective monetary policies" have helped support growth.

But the ratings agency lowered its outlook for America's long-term credit rating to "negative" from "stable," based on the uncertain political debate around the nation's fiscal problems.

The outlook means that there is a one-in-three likelihood that it could lower the long-term rating on the United States within two years, S&P said.

COMMENT:  I suspect we'll see other stories like this as the gathering train wreck continues.  I like to compare this to the endless refrain of the educational establishment, in justifying out-of-control education spending, that we're doing it "for the children."

Look at the debts we're leaving to these same children.  I'm sure they'll thank us.

April 18, 2011