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The US was warned

Tam

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Geithner says there is 'no risk' of a downgrade for the US economyUS treasury secretary shrugs off credit rating warning

Larry Elliott, economics editor guardian.co.uk, Tuesday 19 April 2011 19.31 BST Article history
Tim Geithner, the US treasury secretary, shrugged off warnings from a leading ratings agency about the US public finances as he sought to reassure Wall Street that the world's biggest economy would be able to maintain its highly prized AAA rating.

In a media blitz following the announcement by Standard & Poor's that it had revised its outlook on the US from stable to negative, Geithner said there was "no risk" of a downgrade.

The treasury secretary insisted that Washington was serious about reducing the budget deficit, which has ballooned to 115% of GDP after being in small surplus a decade ago. "Actually, I think things are better than they have been if you want to think about the prospects for improving our long-term fiscal position," Geithner told CNBC television.

"If you're looking very carefully at what's happening in Washington you see people on both sides – Democrats and Republicans – agreeing with the president that we have to put in place some reforms now to bring down our long-term deficits," he added.

Geithner told Bloomberg Television that both domestic and foreign investors are still confident in US debt and the stronger growth prospects of the US economy. "You can see that in the price at which we borrow every day, but we have to earn that confidence," Geith- ner explained.

The treasury secretary made it clear he thought it possible for the Obama administration to secure a deal with Democrats and Republicans in Congress to reach a deal to "lock in" targets and mechanisms to cut deficits by a total of $4tn (£2.5tn) over the next 10 to 12 years

Obama's genius shrugges off the rating agencies warning 3 1/2 months ago and now the US is going to be downgraded. :roll: Will somebody PPLLEEEEAAASSSSEEEE fire this tax cheating genuis before there is absolutely nothing left of the US economy :x .
 

hypocritexposer

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Geithner said measures proposed by the Obama administration will "dramatically" lower deficits over the next four to five years as a percentage of total economic output and said Congress should help in controlling spending.


:roll:
 
A

Anonymous

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Wall street owns the rating agencies. they have been in cohoots since the 80's....

none of the ratings are real and they are now using this to try to scare us...

if the ratings were real, we would be sitting on a F already.

we cannot pay our bills and never will be able to do it. our entire illegal individual tax from the corporation called the irs does not even pay the interest back to the jewish bankers that own the federal reserve...
 
A

Anonymous

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shaumei said:
Wall street owns the rating agencies. they have been in cohoots since the 80's....

none of the ratings are real and they are now using this to try to scare us...

if the ratings were real, we would be sitting on a F already.

we cannot pay our bills and never will be able to do it. our entire illegal individual tax from the corporation called the irs does not even pay the interest back to the jewish bankers that own the federal reserve...

(Reuters) - The United States will likely keep its top-notch credit rating from Moody's for now, despite the "limited magnitude" of the deficit reduction plans being discussed in Washington, the ratings agency said on Friday.

http://www.reuters.com/article/2011/07/30/us-usa-ratings-moodys-idUSTRE76S6DL20110730
 

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