Tim Geithner is brushing off concerns that the US will lose its AAA rating. Bond king Bill Gross, meanwhile, tells Bloomberg that a downgrade is inevitable.
- The US and UK have "prospective deficits of 10% annually as far as the eye can see"
- Both countries are seeing an alarming rise in debt-to-GDP. "At some point they may approach 100% of debt-to-GDP, which is a level at which downgrades tend to occur."
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