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Obama Orders Press Blackout After US Credit Rating Cut
http://www.pakalertpress.com/2012/04/08/obama-orders-press-blackout-after-us-credit-rating-cut/
Credit rating agency Egan Jones (EJR) downgraded the United States Thursday on concern over the sustainability of public debt. Egan Jones is one of the most important ratings firms in the world; they lowered the US credit level from AA+ to AA. The firm reduced the US from AAA to AA+ in July 2011, just before Standard & Poor’s did the same.
Egan Jones further warned: “Without some structural changes soon, restoring credit quality will become increasingly difficult . . . without some structural changes soon, restoring credit quality will become increasingly difficult.” They added that there was a 1.2% probability of US default in the next 12 months. The company cited the fact that the US’s total debt, which now equals its total GDP, is rising and soon will eclipse the national GDP; the company sees the debt rising to 112% of the GDP by 2014.
http://www.pakalertpress.com/2012/04/08/obama-orders-press-blackout-after-us-credit-rating-cut/
Credit rating agency Egan Jones (EJR) downgraded the United States Thursday on concern over the sustainability of public debt. Egan Jones is one of the most important ratings firms in the world; they lowered the US credit level from AA+ to AA. The firm reduced the US from AAA to AA+ in July 2011, just before Standard & Poor’s did the same.
Egan Jones further warned: “Without some structural changes soon, restoring credit quality will become increasingly difficult . . . without some structural changes soon, restoring credit quality will become increasingly difficult.” They added that there was a 1.2% probability of US default in the next 12 months. The company cited the fact that the US’s total debt, which now equals its total GDP, is rising and soon will eclipse the national GDP; the company sees the debt rising to 112% of the GDP by 2014.