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Recommend "Washington's Blog" - There's Only One Way to Avoid a Downgrade to U.S. Credit (Email)

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By Washington's Blog

Global Research, July 27, 2011

http://globalresearch.ca/index.php?context=va&aid=25796

 

According to Reuters, a majority of economists now think that U.S. credit will be downgraded.

The debt ceiling plans being proposed likely will not avoid a debt downgrade.

Indeed, as Zero Hedge notes, the cuts being proposed in the debt ceiling proposals would be offset by the costs of the downgrade:


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