Friday, August 5, 2011

S&P downgrades U.S. credit rating to AA+

S&P downgrades U.S. credit rating for first time - The Washington Post:




Standard & Poor’s announced Friday night that it has downgraded the United States credit rating for the first time, dealing a huge symbolic blow to the world’s economic superpower in what was a sharply worded critique of the American political system.
I'm not an economist, but neither are most expressing opinions right now, so what the heck: (1) if we refuse to collect the revenue to pay our bills, should we be AAA rated, and (2) do you give any credence to any ratings agency anyways?

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