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    Future Money Trends Report - - - Episode 3 - August 5, 2011


    by FutureMoneyTrendscom


    full script at:

    A debt ceiling compromise was reached but the U.S. government failed to make any substantial change in policy when it agreed to raise the debt ceiling enough to last until 2013. The agreement lowers previously defined spending however it still adds seven trillion dollars to the U.S. national debt over the next ten years. U.S. debt has now reached 100% of GDP with no end in sight to fiscal irresponsibility.

    Rating agency Moody's kept the U.S. AAA credit rating but put the United States on a negative outlook making it likely for a future downgrade. Standard & Poor's as well as Fitch rating agencies are also likely to downgrade the U.S. Some other rating agencies of the world have already downgraded the U.S. including recently a Chinese rating agency.