US credit rating 'at risk' - papers

The credit ratings agency cautioned that if the US were to grow at slower pace levels than expected, the largest economy in the world's already-extended finances could be over-stretched, in turn damaging its AAA credit rating, writes the Telegraph. Were the US to lose its AAA rating, it could cause further financial damage, by increasing the cost of borrowing money, a necessary evil for a country predicted to have a $1.56 trillion (£980bn) budget deficit this year. Full story...