European Credit Agency Downgrades US Credit Rating from AAA to AA

[abelenkpe]

European Credit Agency Downgrades US Credit Rating from AAA to AA

http://jessescrossroadscafe.blogspot.com/2011/06/us-credit-rating-downgraded-from-aaa-to.html

Homburg, 8 June 2011 - The Bad Homburg €uro Feri Rating & Research AG downgraded the first credit rating agency's credit rating for the United States from AAA to AA. Feri analysts justify the downgrade by the continuing deterioration of the creditworthiness of the country due to high public debt, inadequate fiscal measures, and weaker growth prospects.

"The U.S. government has fought the effects of the financial market crisis primarily by an increase in government debt. We do not see thank that there is sufficient attention being paid to other measures, "said Dr. Tobias Schmidt, CEO of Feri Rating & Research AG €. "Our rating system shows a deterioration in economic health, so the downgrading of the credit ratings of U.S. is warranted."

For the third consecutive year the deficit of the United States is in double digit percentages relative to gross domestic product (GDP). "Deficits of such magnitude are not a sustainable fiscal policy. We would reconsider the rating when the U.S. government creates a long-term sustainable budget," said Schmidt.

(more at link)

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[aquart]

1. Why worry about this when we have a Weiner?

REPUBLICANS WIN!