Contact Us

United States Credit Rating Downgraded – National Debt Spiraling Out Of Control

The debt has reached a breaking point and the United States is losing it’s credit rating with the rest of the world. If they can not reach an agreement on spending cuts and budget, it could be real trouble for the United States as well as the citizens.

Dow Loses 678 Points, Closing Below 8,600
Photo by Mario Tama/Getty Images

With partisan squabbling increasing ahead of a vote to raise the nation’s borrowing limit, aides to a bipartisan “gang of six” lawmakers in the Senate are working through a holiday recess on a deal to slash the country’s skyrocketing debt and deficit.

Staffers for the group tell Fox News that their goal is to produce an agreement by May 2 to present to Congress when lawmakers return from their Easter break.

And with Monday’s blunt warning from the credit rating agency Standard & Poor’s about U.S. debt, and the financial markets’ subsequent drop, the pressure is growing more intense.

“This is one more warning sign that the financial markets are paying close attention to see if we are serious about addressing our budget deficits and long-term debt,” said Sen. Mark Warner, D-Va., a former governor and lead organizer of the so-called “gang of six,” in a statement released by his office.

More From Voice Of Amarillo

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://voiceofamarillo.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on News Talk 940 AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on News Talk 940 AM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!