The world's most powerful credit-rating nerd -- his finger poised on the doomsday button of the US economy -- says all this talk about a temporary solution to the country's deficit and debt ceiling isn't good for those looking to hold on to Uncle Sam's AAA debt rating. At least according to the NY Post.
David T. Beers, the Standard & Poor's executive who will ultimately decide if the US debt gets downgraded to AA -- forcing Americans to pay more for almost any type of loan while possibly leading the stock markets lower -- is the otherwise anonymous analyst thrust into the spotlight.
The 56-year-old will decide, possibly in the next week, if he will take the US credit rating down from AAA -- where it has rested since 1941.
"Ultimately, we've got to look at the overall plan to make a judgment as to whether it's likely to make a difference in the rising US debt," Beers told an interviewer yesterday.
While he refused to throw his support behind either the Democrats' or Republicans' plan, Beers said that passing a temporary solution that will force the country -- and his ratings agency -- to revisit the issue in several months "would be negative" in his downgrade review….
Read more at http://www.nypost.com/p/news/business/raatings_rat_vtL3UPTcYyVN5HwwR5gLkL
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