Leaviss: US will lose AAA-rating after 2012 elections

The bond manager said even if a new president is appointed in November 2012, it is unlikely they will come up with a long-term austerity package to address the country’s soaring debt levels. “Almost 10% of the US government’s revenues are being paid on interest payments – this is something the rating agencies will not stand for and the country will lose its AAA-rating if this is not addressed,” said Leaviss. “Even if a new president comes in next year, they will not come up with a long-term strategy, so the country will become AA-rated as there is no political will to come up with a p...