Fund managers spell out US investment risks

The letter goes on to say that without a credible action plan to reduce the budget deficit, US debt will likely to downgraded by one or more rating agencies. "The idea of America losing its AAA rating was once unthinkable, but now highly likely if our leaders fail to act. If that were to happen, six countries, including France and Germany, will have credit ratings above that of the United States, signaling America’s diminished ability to pay its debt. And, make no mistake about it: the consequences of such a downgrade are very real and very serious." "Interest rates today are low. But...