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Originally Posted by afc wimbledon
No one knows, this is an eff up of unprecidented proportions. That said the reason the US is triple A rated is because it has never defaulted, as soon as it does that reason is gone forever, it then has to justify its rating based purely on its financial status, which we know is not good, the only reason I think the bond markets might want to reupgrade the US is because it is such a huge market, if it was any other country you would have to assume it would take decades to bring the debt and deficit under control to regain the markets trust.
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America isn't going to default on its debt. They have enough money from revenue to cover it. What will happen is partual and full shut downs in the different government departments combined with most government sponsered projects being postponed.
The reason America might lose its credit rating is the unresolved spiraling debt. The Credit agency is calling for 4 trillion in cuts over ten years. They want a realistic plan.