Obama acknowledges AAA credit rating at risk


Speaking from the White House on Friday, President Barack Obama warned that the US could lose its coveted AAA credit rating if politicians cannot agree on a package to raise the debt ceiling.

"We are almost out of time," Obama said. Adding that if the AAA rating were to be lost, it would not be because the US did not have the ability to pay its bills, but "because we didn't have the AAA political system to match the credit rating".

There would be untold consequences were the political parties

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