Sunday, August 7, 2011
S&P AA+ rating on U.S. Sovereign Debt not Low Enough
Posted by Nick
On Friday evening Aug 5th Standard & Poor's downgraded U.S sovereign debt from AAA to AA+ with a negative outlook. By raising the debt ceiling Congress and Obama had hoped to avoid a downgrade. Ironically it was their very actions that caused the downgrade to happen.
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It is absolutely foolish to think the rating went down for any reason other than our inability to raise revenue.ReplyDelete