It’s the Spending
We cannot waste time shooting the messenger when the message itself is impossible to ignore
By Heritage Foundation Rory Cooper—— Bio and Archives--August 8, 2011
American Politics, News | Comments | Back To Full Article
On Friday evening, Standard & Poor’s (S&P) downgraded the U.S. credit rating from AAA to AA+. As we and other conservatives warned, the spending reductions in the deal negotiated by President Obama to raise the debt ceiling were inadequate, and S&P reacted as we predicted but sooner. Neither Moody’s nor Fitch, two other rating agencies, have downgraded federal debt yet, but they are not providing much rosier outlooks.
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