On Tuesday, August 2nd, US Congress voted to raise the $14.29 TRLN debt ceiling, particulary to keep away from a default on some commitments. Friday afternoon brought S&P’s announcement that it had lowered its rating of long-term U.S. debt from AAA to AA+, and indicated that the rating was unlikely to enhance. After weeks of political gridlock, there was some speculation that the debt ceiling won’t be raised in any respect. (The national debt of the U.S. is presently hovering proper around the 15 trillion dollar mark.)
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