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S&P Cuts US Credit Rating to AA+
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<blockquote data-quote="klein" data-source="post: 864736" data-attributes="member: 23950"><p>Well, if you do a little self research, no other AAA rated country has over 100%, (as the US has), debt to GDP ratio, Luxembourg & Australia as low as 20 and 22%.</p><p>Also no other AAA country has a non functional, bi-partisan political house as the US currently does.</p><p>And thirdly, when a budget bill passes, no other AAA country, needs to debate and pass it again to raise their debt.</p><p></p><p>One example : Back in 1993 when Canada lost it's AAA rating, our debt to GDP ratio was at 72% (yes, high for those days), but not nearly the 100+% the US has now and counting. Estimated $7 more Trillion to be added in 10 years, which will add another 50%. (and that's if your lucky and the debt doesn't rise by more). - Hence the negative outlook S&P added to the AA+ rating !</p></blockquote><p></p>
[QUOTE="klein, post: 864736, member: 23950"] Well, if you do a little self research, no other AAA rated country has over 100%, (as the US has), debt to GDP ratio, Luxembourg & Australia as low as 20 and 22%. Also no other AAA country has a non functional, bi-partisan political house as the US currently does. And thirdly, when a budget bill passes, no other AAA country, needs to debate and pass it again to raise their debt. One example : Back in 1993 when Canada lost it's AAA rating, our debt to GDP ratio was at 72% (yes, high for those days), but not nearly the 100+% the US has now and counting. Estimated $7 more Trillion to be added in 10 years, which will add another 50%. (and that's if your lucky and the debt doesn't rise by more). - Hence the negative outlook S&P added to the AA+ rating ! [/QUOTE]
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