Debt downgrade: Why did it take S&P so long?

posted by
August 18, 2011
Competitive Enterprise Institute
by Fred L. Smith, Jr.  
Posted in Commentary

"Now that Standard & Poor’s has downgraded America’s government credit rating, the real questions everyone should be asking are: What took them so long, and why haven’t Moody’s and Fitch done so as well? If the U.S. government were not a 'sovereign' but a firm, it would have been downgraded long ago. And were this decision in the hands of a political institution -- say, the International Monetary Fund -- we might still be waiting for a realistic diagnosis." (08/17/11)  

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