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    Our rating improved as a result of Osborne's emergency budget and 'real life' interest rates, paid by HMG, that previously were approaching junk levels reduced.

    The US Congress has said that Obama should cut the deficit, something he should have started long ago, this is producing the political turmoil in the USA and the downgrading of their creditworthiness is the result.

    I said on the forum during the US elections that Obama had two weaknesses, economic policy and foreign policy - we have seen the truth in that.

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