S&P downgrades U.S. Debt

May 1, 2011

The U.S. debt bomb continues to tick. With a monthly federal deficit equal or greater than the outrageous federal deficits under President George Bush, the miniscule financial cuts in spending proposed by both Republicans and the even more microscopic spending cuts proposed by the Democrats are starting to severely hurt both the U.S. economy and the U.S. dollar.

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In today’s news, the S&P agency downgraded the United States debt outlook from stable to negative.

According to the Guardian, this is the first time the the United States has had a negative ratings in seventy years.


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