S&P 500 Cuts U.S. Rating Outlook To Negative

U.S. Warned on Debt Load

S&P Signals Top Credit Rating Is in Danger, Stoking Political Battle on Deficit

APRIL 19, 2011

Continued further @
http://online.wsj.com/article/SB10001424052748704004004576270693061767996.html?mod=WSJ_WSJ_US_News_3

Heads up, everyone. Washington will have to agree on a budget plan to lower the deficit before it reaches a critical threshold by some point in 2012 (within 2 years the economists say), or they will risk having America lose it's positive AAA rating. This will also mean that our currency pair is not seen as the global standard, the Euro will overtake the Dollar in the foreign exchange market.

 

Bro, nobody cares. I mentioned this at work with several co-workers and with friends and the reaction I get is a blank stare. What response I do get from some is that "as long as my social security is not taken away from me" or "so long as I get my medicare". Now with this debate coming on raising the debt ceiling and putting a new fiscal budget together to cut the deficit you will find that most americans are clueless and will not care so long as you do not take their entitlements away. I doubt if this country's economy crash if it does not matter to most of them. So long as they get theirs.

 

I see. I do think a plan needs to drafted in Congress later this year or in 2012 so the country's national debt doesn't go up too high. I hear on MSNBC often that they have to keep increasing the "debt ceiling".

 

The debt ceiling has been increased before under the Reagan Administration.