S&P has cut the US outlook from stable to negative. So can Republicans and Democrats put aside their differences to tame the supermassive deficit before the US implodes?
In the last 24 hours the ticking clock Republicans and Democrats have been operating under regarding the US deficit struck an intimidating bong. Ratings service Standard & Poor’s has slashed the US economic outlook from stable to negative – reflecting behemoth debt the US acquired in 2009 and the miniscule odds of its being paid back before 2014.