Tuesday, August 09, 2011
"Rating downgrade: Did S&P get it right?"
I find this article quite refreshing in that it appears to be free of bias.
It clearly points out that our elected officials are the main cause of our financial problems, and calls on them to fix the (our) mess they've gotten us into...
It clearly points out that our elected officials are the main cause of our financial problems, and calls on them to fix the (our) mess they've gotten us into...
Jeanne Sahadi explains it all at Fidelity.com:
"'The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed.' S&P said Friday in downgrading the United States to AA+ from AAA.
In some ways, it's easy to see why S&P is so pessimistic. Throughout the struggle to raise the debt ceiling, some lawmakers repeatedly suggested it would be better to risk default and not raise the ceiling until Congress passed a spending-cuts-only plan to reduce debt."
