Credit rating agency Standard & Poor’s (S&P) downgraded to “negative” today its outlook on the United States sovereign debt, citing the risk that the government will be unable to curb rising debt and the growing deficit.
According to the New York-based credit rating agency:
Because the U.S. has, relative to its AAA peers, what we consider to be very large budget deficits and rising government indebtedness, and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable.
