Both White House and GOP debt plans put US credit rating at risk


English: President Barack Obama discusses his ...

English: President Barack Obama discusses his jobs plan, the American Jobs Act, in a speech delivered to a joint session of the 112th United States Congress on September 8, 2011. Vice President Joe Biden and House Speaker John Boehner are seated behind the President. (Photo credit: Wikipedia)

By Erik Wasson – Deficit-reduction proposals from Speaker John Boehner (R-Ohio) and President Obama fall short of clearly stabilizing the debt, according to budget experts, putting the U.S. credit rating at risk of a downgrade.

While some suggest new talks between Obama and Boehner suggest a deal is in reach, they have doubts it will be big enough to meaningfully reduce deficits — or satisfy credit rating agencies.

“More is going to have to be done. I’m actually getting a bit more optimistic that a fiscal-cliff deal will get done, but at the same time I’m less optimistic that a ‘grand bargain’ will be achieved,” Bob Bixby of the Concord Coalition said. “The real issue is where everything ends up as a percentage of GDP.” more> http://tinyurl.com/a7wek82

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