Neugebauer: Another Credit Downgrade Is Possible

Time is running out for the congressional Supercommittee  to reach an agreement on deficit reduction.   In an interview on KFYO, Rep. Randy Neugebauer talked the possibility that the U.S. credit rating will take another hit.

“I think if we don’t demonstrate that we have the ability to start changing the direction that there will be further downgrades,” Neugebauer said.  “Basically when you look at the rest of the world, particularly what’s going on in Europe, the downgrades that are happening over there are for the very same reason.  Those countries are running huge deficits.”