Quote:
Originally Posted by pigman
Why isn't the downgrade the headline on foxnews?
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That is all they've been talking about since they first broke into their normal broadcast yesterday. Matter of fact, when I last watched it yesterday Neil Cavuto (their lead business guy) was all over the place. Then I tuned in this morning and he was still on and was interviewing the Managing Director of Standard & Poors about them downgrading the U.S.
He told Cavuto that there is a chance we could be downgraded even further in 6 to 24 months unless we do something about entitlement programs (we've known Social Security wasn't going to remain solvent for years...I first heard the debate on it when I was in high school in 1978)
Cavuto then asked him if it was possible to regain AAA status.
The director told him that 5 countries had done that in history. And it took them between 9 and 18 years to do so.
