"A number of weaknesses are chipping away at its competitiveness...the U.S. fiscal imbalances and continued political deadlock over resolving these challenges," said Jennifer Blanke, Economist at the Geneva-based WEF.
Political
deadlock over reducing the unsustainable federal government budget
deficit – projected to hit $1.1 trillion this year – prompted Standard
& Poor’s to downgrade the country’s credit rating by one notch to AA+ from AAA last August.
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