Credit rating of the United States and problems??
I was walking to my local branch manager today while waiting in line about the economy.
We were talking on issues of credit and he stated the current administration is like a kid getting the keys to a Corvette and not knowing how to drive. I mentioned the U.S.A already has one credit downgrade and with the fiscal cliff could happen again.
The banker stated he sees at least 2 credit downgrades in the coming 1 to 2 years for the United States. If that is case with our credit going down borrowing costs will increase for the United States. If that happens many of the so called cuts and savings will be offset by higher debt service the Government has. So at this point it seems our instability more than anything is affecting us as we are just spinning our wheels getting nowhere.
I am not part of any political party so I only want the discussion to be focused on credit and how that would impact our huge negative deficit and borrowing costs to balance the budget.
