An agreement is not necessarily going to avoid a downgrade from AAA- to AA+ from S&P. S&P has maintained that $4 Trillion over 10 years needs to be cut/raised through taxation in this agreement to stave off a downgrade. Looking at the Senate bill from Reed and the Republican house bill from Boehner it seems to be short 1-1.3 trillion in the cuts/added revenue department, meaning a compromise deal still equals downgrade and negative implications.
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