S&P says US outlook negative

[Guest guest]

They have a point. Many other nations are taking austerity measures, cutting spending and debt, etc. The US is still spending like mad, and far more than most people realize, and going deeper into debt, again more than most people realize. At the same time the politicians are fighting over a few billion in cuts out of trillions of dollars for the budget. Even then it turns out you can't trust them because the cuts are mostly smoke and mirrors and Obama is refusing to abide by the agreements and budget and eliminate some of his czars that were to be cut. It is impossible to negotiate in good faith with someone who has no intention of keeping their word.

Of course, many of Obama's advisors and mentors are out there howling about causing a crisis to bring down the capitalist system and remaking the US on a socialist/Marxist framework. The media won't cover that but they are on video and print saying quite openly.

Quote:

Standard & Poor's on Monday downgraded the outlook for the United States to negative, saying it believes there's a risk U.S. policymakers may not reach agreement on how to address the country's long-term fiscal pressures.

"Because the U.S. has, relative to its 'AAA' peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable," the agency said in a statement.

In an interview with CNBC, Beers, S & P's global head of sovereign ratings, said the agency has been "struck increasingly by the difference in how other governments are dealing with fiscal consolidation."

http://www.cnbc.com/id/42643384