S & P: U.S. fiscal position is far better than in Japan

International rating agency Standard & Poor's (Standard & Poors) sovereign ratings committee chairman and executive director John Chambers on Thursday (January 27) in an interview that the U.S. fiscal and monetary position of strength to be much stronger than that of Japan.

Standard & Poor's Thursday lowered Japan's long-term debt rating, saying the Japanese government's debt ratio has reached its highest national assessment, and expected that this level will continue to rise and will peak in the 2020s, Thus Japan's long-term sovereign rating lowered to AA from AA-, stable outlook.

Critics began to question whether the U.S. will eventually rising because of the deficit but suffered downgrades, Chambers said the U.S. sovereign debt rating outlook is stable, while the rating outlook coverage of 6-24 month's time.

Chambers said that at present enjoy the "AAA" sovereign rating than the United States and Japan have many positive factors. He compared the U.S. and Japan pointed out, the U.S. government drastically reduced debt levels, the United States is more than willing to cut the deficit in Japan, but also more optimistic about economic prospects.

S & P expects the general government debt in Japan in 2010 gross domestic product (GDP) ratio will reach 115%, while the U.S. was 71%. S & P said the general government debt, including a State from the federal government to the state level, local level of government in all levels of government debt.