Britain’s AAA rating was endangered when Standard & Poor’s
Britain’s AAA rating was endangered when Standard & Poor’s yesterday lowered its outlook on the nation’s grade to “negative” from “stable,” citing a debt level approaching 100 percent of U.K. GDP.It’s “critically important” to bring down the American deficit, Geithner said.In its latest budget request, the administration said it expects the deficit to drop to 85 percent of GDP next year, then to 6 percent in 2011 Ultimately, it forecasts deficits that fluctuate between 27 percent and 34 percent between 2012 and 2019.
