Our national spending problem threatens to destroy the republic. How a populous (much less a president) continues to call for more spending is beyond me.
The United States held onto its AA+ rating from Standard & Poor’s Friday but the agency said it also kept a negative outlook on the country, citing the political deadlock over fixing the fiscal deficit.
Ten months after delivering a historic rate cut to Washington, removing its top-level AAA rating, S&P warned that the reasons for the downgrade remained in place and that if anything they were deteriorating.
The ideological deadlock between Republicans and Democrats continued to block real solutions for closing the government’s deficit and bringing down debt, S&P said.
It reiterated its August 2011 warning that if politicians do not come together to address the gaping fiscal hole and reduce debt over the medium term, the United States could be dealt another downgrade.
“The negative outlook reflects our opinion that US sovereign credit risks, primarily political and fiscal, could build to the point of leading us to lower our ‘AA+’ long-term rating by 2014.”