While the actual economic evidence and reasoning behind the downgrade is definitely debateable, I do think the bigger story is the politcal climate and that was referenced as a cause of the downgrade too. The politics and brinksmanship behind the decisions (or lack thereof) and the childish way in which the government negotiated and tried to fix this problem is very scary. And when taken as part of a larger picture of what has been going on in American politics, I think there are legitamite concerns about how the country may right the ship, if they can.
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