According to a new report from Standard & Poor's, the U.S. is in serious danger of losing its superior "AAA" credit rating as a result of budget pressures and the impact of a rapidly aging population.

"Unless the government takes measures to cut its fiscal deficit, the country's credit rating would fall to single-A after 2015, and as low as 'BBB' by 2020," S&P said in a press release, according to Reuters.

S&P's chief economist for the United States, David Wyss, says that "unless steps are taken, total age-related public spending will double as a share of gross domestic product to 20% by 2050 from 10% in 2005 ... In this scenario, government deficits and net debt would rise sharply to 29% and 350% of GDP, respectively, by 2050," according to a story in USA Today.

While the famed ratings company reminded that this a projection – and not an actual prediction – it added that such a credit deterioration would bring the U.S. into line with those nations classified with "speculative-grade" sovereign debt ratings, also known as "junk status."

But S&P says this is merely simulation to show the effects of current trends in age-related government spending on credit-worthiness. "In reality, it is highly unlikely that governments will allow debt and deficit burdens to spiral out of control," S&P said.

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