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America is Sick,Do we Sneeze?

April 27, 2012

America is “sick,” do we “sneeze?”

Tuesday, 23 August 2011 12:30 AM Edmund Lao

 

 

sick_uncle_sam

On August 5, 2011, for the first time in history, Standard & Poor’s credit rating agency downgraded the long-term credit rating of the United States government from AAA to AA +. This was preceded last August 2 by the passing of a law that increased the debt ceiling of the US government. Otherwise, there will not be enough money to pay some of its debt. The result will be a debt default, a bad scenario coming from the world’s biggest economy that already breached a debt ceiling of $14.3 trillion.

 

for more, please click   

 http://thepoc.net/thepoc-features/mukhang-pera/mukhang-pera-features/13303-us-financial-crisis-its-effect-on-the-philippines.html

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