Credit Ratings Agency Egan-Jones has now lowered the United States credit rating from AA+ to AA. The agency stating that the United States is no closer to solving its massive debt problems.
“the lack of any tangible progress on addressing the problems and the continued rise in debt to GDP.”
The agency also added in their release, ”For the first time since WWII, US debt exceeds 100 percent,” analysts said, predicting that would rise to 106 percent by the end of the year, calling that an “inflection point.”
Egan-Jones is one of the smaller ratings agencies. However, what is important about this new update is that Egan-Jones downgraded the US AAA rating one month before Standard and Poors. Looks like we may be in for another downgrade from Standard and Poors as well.
Suggestions from the agency are to get our fiscal house in order and work through gridlock in Washington. Sean Egan stated, ”We’d like to see some progress towards reducing the fiscal deficit in the next six to twelve months,”
Will we continue to do nothing? The Congress should start taking a good look at Ron Paul’s Plan to Restore America.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
"Approval ratings go up and down for various reasons... An example is the high post 911 support for GWB even though he could be said to be responsible for the event." --- Box A Rox '9/11 Truther'
Melania is a bimbo... she is there to look at, not to listen to. --- Box A Rox and his 'War on Women'
Logged
