UK Debt Outlook Downgraded by S&P

by Marilou Moursund on May 21, 2009

in Bonds,Credit Crisis,Debt

S&P lowered the medium-term outlook for the UK’s AAA debt from stable to negative today.  I noted the bad Gilt auction in late March.  I hope that the Administration takes note of how much the dollar fell today on this news. 

California is also feeling the hangover from too much spending and too much debt.  Voters decisively rejected the Governor’s plan to raise taxes in order to keep spending at unsustainable levels.

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