How close is this to happening?
What will happen when the USA loses its triple AAA credit rating?
We'd no longer be able to borrow money, or at least not on terms as favorable as now.
In other words, BIG TROUBLE.
Reply:The rating is not so important, it is the amount of money we need to borrow in the next year that is astounding. We will need to borrow over a trillion due to tax shortfalls and bailout costs, which will be a record by far. The logical thing for the government would be to cut spending and bailouts, but we'll see if that happens.
No comments:
Post a Comment