S&P Also Warns Of Credit Rating Downgrade


Well, this one was predictable after yesterday’s Moody’s announcement:

An official with credit rating agency Standard & Poor’s, addressing a private meeting, laid out a scenario in which the United States would lose its sterling credit rating if it paid interest on its debt but failed to meet other obligations, according to two people familiar with the discussion.

John Chambers, a managing director at credit rating agency Standard & Poor’s, briefed Sen. Harry Reid and other lawmakers, as well as officials from the Financial Services Forum and U.S. Chamber of Commerce.

[…]

The warning counters the argument that the United States could keep its AAA rating so long as it made interest payments on the debt by prioritizing them above other bills.

I dunno why they’re bothering to talk to Senate Democrats, as those politicians haven’t bothered to come up with a budget, as they’re legally required to do, since 2009.

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About Conservative Wanderer

Conservative Wanderer is currently Editor-in-Chief of That's Freedom You Hear! That means anything that goes wrong can be blamed on him. Previously he was a contributor to the PJ Tatler.
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