Current strains on the U.S. economy have resulted in the United States being kicked out of the Triple-A Debt Club on Friday, as the country no longer can claim a spotless credit rating. With the elimination of the United States from this esteemed group of countries, entrepreneurs and other citizens of the country fear the worst for their financial situation.
Now countries including France, Germany, Sweden, and Canada are among the few 15 countries that are approved to be in this club. What does this mean for The United States? Well, countries that are in this club have the ability to borrow funds at a very low cost due to their financial stability and ability to pay it back. Will the United States government be able to borrow the necessary funding to continue to run the country? The United States’ recent downgrade has landed them at a AA+ from a triple-A according to S&P.
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