- Joined
- Aug 9, 2010
- Location
- Coral Springs, Florida
S&P (the same rating company that said subprime mortgages were AAA rated and safe) has issued a negative opinion about US Debt. They did not lower the country's credit rating yet but it could be lowered if we don't get our house in order. If it does get lowered then be prepared for higher interest rates and increased borrowing costs at the consumer level.
You would think that this would pretty much motivate congress to get on the ball and get our financial affairs in order. Unfortunately, S&P has concluded that the gap between Republicans and Democrats is so wide that they are not optimistic that anything will get done before the 2012 presidential election (they are probably right on this count).
A truly sad state of affairs.
You would think that this would pretty much motivate congress to get on the ball and get our financial affairs in order. Unfortunately, S&P has concluded that the gap between Republicans and Democrats is so wide that they are not optimistic that anything will get done before the 2012 presidential election (they are probably right on this count).
A truly sad state of affairs.