Christian Debt Recovery

Current National Debt Usa

September 16th, 2010 |

Author: Gavin

Credit Rating for a Nation

The current decline in the US credit rating will unfortunately not affect the nation’s CD Rates. What is now a fact is that the S&P rating agency has downgraded the American Government’s debt and their ability to pay it back from stable to negative.

The US Government still has an AAA rating, but that can now change within the next 2 years. This would cause the current debt America owes to increase dramatically. With $0.44 on every $1 spent by the current administration having to be borrowed, it is now time to stop spending money they do not have.

Obama is asking for a rise in the current debt ceiling which is set at over $14 trillion. With a decline in the credit rating, this is a signal from the markets to the US Government to get control of their out of control spending habits. If that does not occur they could be paying up to 23% for borrowing money on the open markets like a few of the Euro Zone countries are facing now.

Unfortunately if the US Government has to pay that amount, only the tax payers will be hurt. The stability of a nation is partially on its sound monetary standings, which America is now losing. This could affect the CD rates and other investments by the FDIC not having the money to cover the losses due to bank failures.

With the US credit rating falling, how long before the government realizes they cannot run the system in a deficit without if causing problems. If a business was this far in debit, they would be beyond bankrupt and have to close. Get the picture yet.

Still the larger interest of the nation and people is there on the minds of the policy makers and a single turn of events will be enough to get the economy back on its foot like it was before. The Federal Government will surely come out with something concrete that will put an end to the speculations being raised about the weak economy and the jeopardy it will be facing in future.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember, the bigger the risk, the larger the reward or loss. Invest with caution.

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About the Author

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