S&P Downgrades US Debt Outlook to Negative – Stocks, Markets Fall

Boomberg Businessweek is reporting that rating agency Standard & Poors has changed the sovereign credit outlook to “Negative” sighting the very real possibility of political gridlock over spending and the country’s debt ceiling.

Read and be afraid. Our skyrocketing debt levels and runaway spending are a very real and very troublesome problem. To lose our AAA rating would change the economic structure of the world, and not in a good way.

The time for half measures and business as usual is long over. Drastic action is now necessary. Are we a serious nation? Do we deserve a AAA credit rating? If so we must start acting like it.

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