The United States Sterling Credit Rating has been lost. This is the first time since it's inception in 1917 that the U.S. has not had a AAA credit rating.
As a gridlocked Congress finally promised a 2 Trillion Dollars in spending cuts, that wasn't enough to satisfy Standard & Poors
The credit rating dropped one notch to AA- status, which was indcated as a possibility back in April, happened Friday, less than a week after the Congress approved a 2.4 trillion dollar hike in the Debt Ceiling.
Standard & Poors, Moody's Investor Service & fitch had warnd Congress if the spending cuts were not far enough, there would be a down grade in the credit rating.
Moody's still has not down graded the Nation's credit rating, but if the out of control spending doesn't, they might drop it also.
This Nation needs to get it's Financial House in order really quick !
YOURS IN LIBERTY ! ! !
Bob Yeager
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