Posted on 06/10/2013 2:24:54 PM PDT by lowbridge
Ratings company Standard & Poor’s upgraded its outlook on the U.S. to “stable” from “negative” on Monday and said “tentative improvements” on the political and economic fronts have bought Washington extra time to grapple with long-term challenges.
The move comes almost two years after S&P shook up Washington by becoming the first ratings company to remove the nation’s pristine “AAA” rating due to widespread concerns about soaring debt and deficit levels.
But S&P affirmed its “AA+” credit rating on the U.S. on Monday and said the revised outlook to “stable” indicates the likelihood of a near-term downgrade is less than one in three. News of the upgraded outlook helped boost stock futures ahead of the opening bell.
Now S&P projects U.S. general government deficit plus non-deficit borrowing requirements to dip to about 6% of gross domestic product in 2013, down from 7% in 2012, and to less than 4% in 2015.
The ratings firm also sees net general government debt as a share of GDP staying “broadly stable” for the next few years at about 84%, allowing policymakers “some additional time to take steps to address pent-up age-related spending pressures.
(Excerpt) Read more at foxbusiness.com ...
I assume the Fed and His Arrogance put enough pressure on them to change the rating up ..... maybe a little PRISM data mining!
S&P makes a serious mistake.
Ratings company Standard & Poor’s upgraded its outlook on the U.S. to “stable” from “negative” on Monday and said “tentative improvements” on the political and economic fronts have bought Washington extra time to grapple with long-term challenges.
In other news the IRS, FBI and the FTC have suspended their investigations into Standard and Poor’s due to changing priorities and funding limitations.
I would rate it closer to a big pile of something that someone would Find on the ground in a Stable
You are probably more right than you know.
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