 Image from a quicklink (Image by Unknown Owner) Details DMCA | It warned that the rating cut would be followed by more "devastating credit rating cuts" and global financial turbulence if the US fails to learn to "live within its means". "The US government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," China said in a commentary carried by the Xinhua News Agency. Vince Cable, the British Business Secretary, said the downgrade was an "entirely predictable consequence of the mess that the Congress created a few weeks ago when they couldn't agree on lifting the debt ceiling." |
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At www.telegraph.co.uk
At www.telegraph.co.uk
