S&P Downgrades Credit Rating Of US

S&P has downgraded the US credit rating to AA+. You can thank Republicans and the tea party for playing politics with the debt ceiling vote because this was never mentioned until they took it hostage:

Credit rating agency Standard & Poor's says it has downgraded the United States' credit rating for the first time in the history of the ratings.

The credit rating agency says that it is cutting the country's top AAA rating by one notch to AA-plus. The credit agency said late Friday that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation and that the policymaking is not stable or effective as needed to address the current economic challenge...read on

About John Amato

Comments

We welcome relevant, respectful comments. Please refer to our Terms of Service for information on our posting policy.