S&P Is Back, Warning About What Will Happen If The US Doesn't Reach A Deficit Deal

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Last week BofA raised eyebrows with its prediction that another downgrade in the US could come in a matter of weeks if the US debt super-committee doesn’t come to a good solution on reducing the US deficit.Well, it sounds like S&P is paying close attention.

According to Bloomberg’s Lizzie O’Leary, S&P chairman John Chambers is out warning that a failure to get a debt deal WOULD hurt the US.

He doesn’t specifically say anything about a ratings action, but the pressure is clearly amped up: No deal, and we might see another downgrade.

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