Rating Agencies Warn Further Downgrade Without Deficit Plan

Rating Agencies Warn Further Downgrade Without Deficit Plan: "Rating agencies say they need to be convinced that lawmakers have a real plan in the works to reduce the growing debt if the nation is to avert future downgrades, according to a report by The Hill.

“If Congress doesn’t put in place a process that assures people that this will be addressed in a real manner . . . then there is no doubt in my mind that our sovereign debt will be downgraded,” said Steve Bell, the senior director of economic policy at the Bipartisan Policy Center. “Markets throughout the world are going to be looking at the action of the United States government.”"

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