S&P says no cut planned in US credit rating

[DCBob]

Source: AP

WASHINGTON (AP) -- Credit rating agency Standard & Poor's says it will not downgrade the U.S. government's credit rating because a Congressional committee failed to come up with a plan to trim deficits by at least $1.2 trillion over the next decade.

S&P in August cut its rating of long-term U.S. Treasury securities by one notch from AAA to AA+, the first such downgrade of U.S. government debt in history.

In a brief statement Monday, S&P said it did not plan a further downgrade of the rating based on the supercommittee's failure to agree on a plan. But S&P warned that its present rating is based on the expectation that automatic cuts will take effect in January 2013. Some Republicans are vowing to block the defense spending cuts.

Read more: http://finance.yahoo.com/news/p-says-no-cut-planned-232038389.html

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Well that's good news. I suspect the Republicans are seriously disappointed. Their main goal is to create havoc and makes things difficult for the President.

[goforit]

1. US Gov't places gun to S & P "HEAD"

[Zoeisright]

2. Fuck S&P

Those are the same jackasses who rated junk bonds and mortgage securities AAA.

[russspeakeasy]

3. Did they make that statement from jail ?

[KeyserSoze87]

4. I bet the teabaggers are disappointed.