link here to article
The US has its problems but S&P's downgrade of US debt is not credible either. The US debt problem in the short and medium term is not serious but it is serious in the long run. The major long run problem is the rising cost of healthcare which gets worse over time as prices inflate and more citizens qualify for benefits. That problem can also be fixed since the US pays far more per person for healthcare than any country in the world. If we could control price inflation things would be much better. Furthermore, the US is one of the lowest tax countries in the world and it has the largest economy. We should be able to afford to fund a more efficient healthcare plan. Our basic problem is that we are not politically able to address either solution as long as one of our major parties is under the control of right wing radicals.