U.S. Debt Downgrade Likely Tonight

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eschwerin@rosemontseneca.com

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2011-08-05 21:56:09

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Hunter Biden <hbiden@rosemontseneca.com>

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U.S. Debt Downgrade Likely Tonight
A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor's to downgrade the rating of US debt from its current AAA value.

"Officials reasons given will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited."


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
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