Downgraded

posted by
August 7, 2011
The American Prospect
by Jamelle Bouie  
Posted in Commentary, PND Commentary

"Last night, Standard & Poor’s, one of three agencies that rate the debt of governments and companies, announced that it would reduce the United States’ credit rating to AA+, one notch below the top rating of AAA. Moody’s and Fitch have no plan to follow suit, but even if they don’t, this will be the first time in history that the U.S. credit rating has been downgraded. The Washington Post blames spending for the downgrade, but this has nothing to do with the government’s policies or its ability to pay. Our debt measured in dollars, which means we can simply print the money if need be." [editor's note: It's rare to see a "progressive" state this obvious fact so matter-of-factly! - SAT] (08/06/11)

http://prospect.org/cs/articles?article=downgraded  

Our Sponsors