SparrowHawk
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S&P Cuts U.S. Ratings Outlook to Negative
Is it me? Or has this essentially been the message of the Tea Party? Now reinforves by Wall Street
First Turd on the fan
A stark warning from a credit-rating firm about the U.S. government's fiscal problems stoked concern on Wall Street and in Washington on Monday, pushing global stock markets lower and intensifying political divisions about the best way to tackle the country's growing deficits.
The U.S. debt now stands at $14.2 trillion and is expected to balloon in part because of rising costs for health care, retirement and other so-called entitlement programs, and the interest costs on existing debt. S&P said that even if a short-term deal is reached to contain deficits, any agreement could later be undone by politicians
Is it me? Or has this essentially been the message of the Tea Party? Now reinforves by Wall Street
First Turd on the fan