Why the US Credit Rating Was Downgraded
Spending, Spending, Spending...
By Alan Caruba —— Bio and Archives--August 7, 2011
American Politics, News | Comments | Back To Full Article
To begin with, the debt ceiling was lifted in part to hold onto our historic AAA rating of U.S. securities, but that didn’t work. On August 5th, Standard & Poor’s, one of three major rating agencies, downgraded the U.S. to AA+, the first such downgrade in the history of the nation. The liberal media immediately attacked Standard & Poor’s, but odds are they will be joined soon enough by Moody’s and Fitch.
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