Thursday, July 28, 2011

U.S. debt downgrade increasingly likely

Orlando Business Journal

The possibility of the U.S. being downgraded by credit rating agencies is increasingly looking likely as the impasse in Washington continues, the Associated Press reports.

The AP reported that analysts are becoming more concerned about the debt downgrade taking place, even if a deal is reached by the Aug. 2 deadline for staving off a default.

Any downgrade could have ripple effects through the economy, with interest rates rising and potentially slowing any economic recovery, according to reports.

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