S&P is threatening to lower the United States credit rating again within the next two years if our debt isn't decreased. They said it, not us:
"The outlook on the long-term rating is negative. We could lower the long-term rating to ‘AA’ within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case."
It said it would give more details on Monday of changes to ratings in funds, government-related entities, financial institutions, insurance and public finance.
We'll keep you posted.