Quote:
Originally Posted by Daradon
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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So is S&P saying plague to both your political houses then? If so, why the political commentary? The fact is the ceiling was raised and an agreement reached to cut ~1trillion in spending. They should be satisfied that the US is on the path to get it's fiscal house in order.
Based on S&P's logic or concern of the political situation, on November 12, 2012 they will upgrade back to AAA since, either the Democrats will have the house again or you'll see all 3 branches controlled by Republicans or neoReps.