If Obama had just slashed taxes and tax rates without any appreciable increase in government expenditures, the GDP would have risen amid a slight increase in debt levels: a far better return.

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It is a very loud statement that there has been an appreciable increase in the risk - which might still be tiny, but it exists - that the US might one day struggle to pay back all it owes.

BBC: As the US loses AAA, where is a safe harbour?

These negative trends seem to have been driven by the caustic combination of a significant increase in attack sophistication and an appreciable reduction in the know-how required to effectively deploying and operating malware.

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