outlook for the u.s.. s&p said we are not considering over the 10 year time frame. s&p could move to downgrade to double a status in two years time. behind the scenes, there was an behind of the action. s&p went to the full committee and got the officials in europe to concur hat it needed to move to double a plus . so what you are seeing s&p was committed to a downgrade regardless of what the error was. why? the fiscal picture and dc and infighting that they are calling detrimental to the fiscal out look is not good and interest rates could spike and the economy could weaken further. one final point. treasury officials and federal reserve officials and primary dealers who met on august 3rd essentially said they did not