Waccabuc NY Homes | U.S. expecting debt downgrade: ABC News

U.S. expecting debt downgrade: ABC News

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    A trader stands outside the New York Stock Exchange following the end of the trading day, August 4, 2011. REUTERS/Brendan McDermid

    A trader stands outside the New York Stock Exchange following the end of the trading day, August 4, 2011.

    Credit: Reuters/Brendan McDermid

    WASHINGTON | Fri Aug 5, 2011 6:48pm EDT


    (Reuters) – The U.S. government expects its debt to be downgraded by credit ratings agency Standard & Poor’s from its current triple-A rating and is preparing for the event, ABC News said on Friday.

    ABC cited an unnamed government official as its source and said it was uncertain whether the rating would drop from triple-A to AA+ or to AA.

    The report said the main reasons likely to be cited for a U.S. downgrade by S&P included political confusion surrounding the process of hiking the debt limit and doubt that agreement would be reached on more deficit reductions.

    Standard & Poor’s warned last month that the United States was at risk of a downgrade if it did not raise the debt ceiling and cut the country’s debt by $4 trillion over a decade.

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    We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
    Comments (2)
    empower28 wrote:

    TEA PARTY B******S. Thank you Tea Party.

    Aug 05, 2011 6:33pm EDT  —  Report as abuse

    empower28 wrote:

    Thank you Tea Party. Remember to spend this evening figuring out ways to shift the blame. You have to overcome one thing: had you not taken America hostage this would not have happened.

    Aug 05, 2011 6:34pm EDT  —  Report as abuse

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