The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.
The trigger would be a likely failure by Congress to agree on a credible long-term plan to cut the U.S. deficit, the bank said in a research note published on Friday.
Read it all.
Filed under: * Economics, Politics • Economy • Credit Markets • Currency Markets • Taxes • The U.S. Government • Budget • Federal Reserve • Medicare • Social Security • The National Deficit • The United States Currency (Dollar etc) • Politics in General • House of Representatives • Office of the President • President Barack Obama • Senate
Posted October 23, 2011 at 2:32 pm
To comment on this article: Go to Article View
The URL for this article is http://www.kendallharmon.net/t19/index.php/t19/article/39252/© 2013 Kendall S. Harmon. All rights reserved.
For original material from Titusonenine (such as articles and commentary by Dr. Harmon) permission to copy and distribute free of charge is granted, provided this notice, the logo, and the web site address are visible on all copies. For permission for use in for-profit publications, please email KSHarmon[at]mindspring[dot]com
<< Return to Mobile view (headlines)