S&P executive: 1 in 3 chance of future downgrade

[AntZ]

S&P executive: 1 in 3 chance of future downgrade


Aug 7, 11:03 AM EDT




WASHINGTON (AP) -- A Standard & Poor's official says there is a 1 in 3 chance that the U.S. credit rating could be downgraded another notch if conditions erode over the next six to 24 months.

The credit rating agency's managing director, John Chambers, tells ABC's "This Week" that if the fiscal position of the U.S. deteriorates further, or if political gridlock tightens even more, a further downgrade is possible.

Chambers also said Sunday that it would take "stabilization and eventual decline" of the federal debt as a share of the economy as well as more consensus in Washington for the U.S. to win back a top rating.

S&P downgraded the U.S. rating Friday, from AAA to AA+, for the first time.

[Loser]

Tbh, they're right that the "entitlement" programs need to be revamped so every other fucking mooch doesn't get free money.

If I didn't have to support all these asshats on welfare and section 8, I and many others would probably not need to work that second or third job.

[Teh One Who Knocks]

Tbh, they're right that the "entitlement" programs need to be revamped so every other fucking mooch doesn't get free money.

If I didn't have to support all these asshats on welfare and section 8, I and many others would probably not need to work that second or third job.

Unfortunately there is only a small handful of politicians even willing to discuss entitlement reform. And when they do, they are demonized by all the other politicians. Look what the democrats have done to Paul Ryan after he released his budget plan which started to attack entitlement spending.

[Loser]

Oh, I know.

Can't come between people and their "free" money...:meh:

[Acid Trip]

Fixing Social Security and Medicare is easy. They need to track how much you put in (via taxes) and how much you take out (via payments). Simply stop sending someone checks once they've received what they paid in. Problem solved.

[AntZ]

Look what the democrats have done to Paul Ryan after he released his budget plan which started to attack entitlement spending.

Ryan is the the reason the country was downgraded! His radical extremist tea party is now public enemy #1! That is the lead story pushed around the world now! ONLY Obama's plan to raise taxes WILL solve the problem!

This is hitting the airwaves all day long, that's given as the reason ALL the worlds markets are tanking.

[FBD]

:lol: I think 33% is a little high for Obama's reelection chances