Reply #109: White House confident in U.S. bond rating

[antigop]

http://money.cnn.com/2008/07/30/news/economy/US_bond_ra...

The Bush administration expressed confidence Wednesday that the United States would be able to maintain its top-notch credit rating even as the government scrambles to find new ways of expanding debt sales to cope with soaring budget deficits.

"It is a huge advantage to have that AAA-status and we are committed to that," Anthony Ryan, Treasury's acting undersecretary for domestic finance, told reporters as he unveiled plans for financing $171 billion in borrowing during the current July-September quarter, the second highest total on record.

Those borrowing needs have exploded this year as the government has had to cope with a sagging economy and the need to finance more than $90 billion in economic stimulus payments made over the past three months to individuals in an effort to keep the country out of deep recession.

Those problems are occurring at the same time that global financial markets have been roiled by reports of multibillion-dollar losses by giant banks and investment houses, reflecting soaring losses on mortgage debt.

Oh, I feel sooo much better now.