# Prof. Lawrence White on a possible US credit downgrade

1 Faculty News December 28, 2012 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](http://www.bloomberg.com/video/could-the-cliff-cause-another-us-credit-downgrade-1~lAyOr4TrylqRaFoh9_mw.html) -- "A down grade doesn't mean we're deadbeat, but it does mean the difference between AAA, which is 'extremely unlikely' to default versus, in S&P language, AA+, which means 'highly unlikely.' Well, after what we went through in August of 2011, how can you argue that it's still extremely unlikely? I don't think so. Highly unlikely? Probably."

[Watch the video](http://www.bloomberg.com/video/could-the-cliff-cause-another-us-credit-downgrade-1~lAyOr4TrylqRaFoh9_mw.html)