Alriiiight! Good news for the U.S. this week, with Standard & Poor’s (S&P)–an American financial services company–giving the U.S.’ credit rating a boost by determining it “stable” versus the “negative” rating it had before. This change in S&P’s credit outlook for the U.S. basically means that there is less than a third of a chance that it will inch further down over the next couple of years, according to a Reuters article published today, June 10th. So, that’s good news! Check out the below Reuters article for further details on the state of the U.S. economy:
“Standard & Poor’s on Monday removed the near-term threat of another credit rating downgrade for the United States by revising its outlook to stable from negative, citing an improved economic and fiscal outlook. The change effectively means there is less than a one-third chance of a downgrade in the next two years.
S&P said a key factor to its revision in the U.S. rating outlook was the agreement reached by the U.S. Congress to avoid the ‘fiscal cliff’, which had threatened some $600 billion in automatic tax increases and spending cuts.”
Click here to read more about the U.S.’ fiscal improvement and other companies’ projections.
Don’t miss the part of the article that reports that the U.S. federal budget deficit is shrinking faster than previously thought. Imagine if you were trying to pay off your debt, and you ended up paying it off faster than you originally anticipated. That would feel AWESOME. So we as citizens of a country that is essentially doing just that with the federal budget, should feel very proud. And good. Which I do, about our economy’s outlook.