US's triple-A credit rating 'under threat'
By Francesco Guerrera, Aline van Duyn and Daniel Pimlott,in New York
Published: January 11 2008 02:00
The US is at risk of losing its top-notch triple-A credit rating within a decade unless it takes radical action to curb soaring healthcare and social security spending, Moody's, the credit rating agency, said yesterday.
Fifty trillion dollars over the next ten years to pay for welfare benefits, tapped-out Social Security and Medicare IOU's, government employee pensions and healthcare.
The military operations in Iraq are a drop in the bucket compared to this.