USA about to lose credit rating?

Posted By: Dr. Frugal in Credit on 01/11/2008 at 08:47:00

The US might lose its AAA credit rating. You might not think that a country--especially the largest, most powerful on on earth, needs a credit rating but the fact of the matter is that we spend a LOT of money. Not only that, we spend a lot of money that we don't have readily available. Ok, we spend a lot of money we don't have available at all. Because the US has such a high credit rating, we can really get our brubby little hands on as much money as we want--and Saudi Arabia and China are more than happy to oblige. I suspect even with a lower credit rating we could still get as much as we wanted, we'd just have to pay a lot more for it.

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