Monday, June 18, 2012

Foreign holdings of US debt hit record high

Standard and Poor’s lowered its rating on long-term Treasury debt one notch from AAA to AA+ following a prolonged debate in Congress over increasing the nation’s borrowing limit

Last week, S&P reaffirmed that rating and said it was keeping a negative outlook on the rating for the future. S&P said U.S. political leaders were not addressing the federal debt burden.

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