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The United States Credit Crisis Jul 12, 2011 // Anthony IsabelNo Comments »The United States Credit Crisis 14 July 2011 The pressure continues to mount as President Obama and Congressional leaders continue to increase their polarized views on how to avoid a debt default as the deadline for raising the debt limit above the current $14.3 trillion limit.
China the countries largest foreign creditor with more than $1 trillion in Treasury debt has called on the U.S. to adopt responsible policies to protect investor interests.
Moodys Investors followed with a statement that it may strip the U.S. of its gold-plated credit rating if the borrowing limit is not raised.
As the crisis looms with growing pressure on the law makers the split is not being taken as seriously in the markets as many economists believe there will be a deal struck prior to the deadline.
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