USA of A?

Running Across Bloomberg headlines (for those of you who are using StockFinder, you can run a window on the chart to streaming  Bloomberg TV and several other financial news networks) Bloomberg headlines reports:

U.S. Faces Downgrade If No Plan

The U.S., lacking a plan to contain $1 trillion deficits, faces the prospect of another rating cut in six to 24 months depending on the outcome of November elections, according to John Chambers ofStandard & Poor’s.


That's interesting...


The U.S. has a one-in-three chance of another downgrade, Chamber said today during an S&P sponsored Webcast.


“What the U.S. needs is not so much a short-term fiscal tightening, but it has to have a credible medium-term fiscal plan,” said Chambers, managing director of sovereign ratings. “That is going to have to say something about entitlements, and that is probably going to have to say something about revenues.”


“I don’t think anything is going to happen between now and the election in November,” Chambers said.