This is a very good article that should raise concern. This could turn out to be the next financial crisis. What if the US can’t raise money in the Bond Market because of a low credit rating? The Consequences to horrible to think. We need to get our budget in order and stop accumulating Debt!
America’s triple A rating is at risk
Long before the current financial crisis, nearly two years ago, a little-noticed cloud darkened the horizon for the US government. It was ignored. But now that shadow, in the form of a warning from a top credit rating agency that the nation risked losing its triple A rating if it did not start putting its finances in order, is coming back to haunt us.
That warning from Moody’s focused on the exploding healthcare and Social Security costs that threaten to engulf the federal government in debt over coming decades. The facts show we’re in even worse shape now, and there are signs that confidence in America’s ability to control its finances is eroding.
Tags: Credit Rating, United States
