If the “super committee”, the bipartisan congressional committee formed to address the U.S. deficit, fails to agree on a plan by November 23, $1.2 trillion in automatic spending cuts, mostly in discretionary spending will be triggered, beginning in 2013, which would negatively impact the already fragile U.S. economy, says Merrill. The bank also cut its 2012 and 2013 U.S. GDP forecast to 1.8% to 1.4% respectively.
Post Tagged with: "AAA rating"
April 22, 2011 08:04
24 Signs Of Economic Decline In America
We really are steamrolling toward a complete and total economic collapse and our leaders are doing nothing to stop it.
March 22, 2010 04:52
Obama Pays More Than Buffett as U.S. Risks AAA Rating
“It’s a slap upside the head of the government,” The bond market is saying that it’s safer to lend to Warren Buffett than Barack Obama.
