Credit rating agency Standard & Poor's says it will not downgrade the U.S. government's credit rating because a Congressional committee failed to come up with a plan to trim deficits by at least $1.2 trillion over the next decade.
S&P in August cut its rating of long-term U.S. Treasury securities by one notch from AAA to AA+, the first such downgrade of U.S. government debt in history.
In a brief statement Monday, S&P said it did not plan a further downgrade of the rating based on the supercommittee's failure to agree on a plan. But S&P warned that its present rating is based on the expectation that automatic cuts will take effect in January 2013. Some Republicans are vowing to block the defense spending cuts.
The Most Surprising Thing About the Colorado Springs Shooting | RedState
Quotes of the day
Clinton aide at State tracked her Benghazi statements for her
State Department: Iran Never Signed Nuclear Deal, Which Isn't 'Legally Binding'
NRA Thanks Obama For Signing Pro-Gun Legislation - Bearing Arms - Barack Obama, National Defense Authorization Act
Peter Morici - 2015 Paris Climate Conference: Another Bad Deal for America
Christmas Gifts | Human Events