Standard and Poors credit analyst David Beers told Neil Cavuto that the S&P may downgrade their USA rating before the end of the month and as early as Monday.
This would be the first time the US would lose their AAA rating.
Another breakdown in talks could also lead to the downgrade.
Barack Obama still has no plan.
Again, let’s be clear…
This potential downgrade is not a complete surprise.
Obama tripled the deficit his first year with the failed Obama-Pelosi stimulus plan. In Obama’s second year the deficit topped a trillion dollars again. It was unprecedented.
Barack Obama and Democrats also added over One Trillion Dollars to the Federal Budget in the last 4 years.
That’s at least a 30% increase in federal spending in just 3 years.
Obama has no intention of serious spending cuts. He still has no plan.