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Originally Posted by seattleflamer
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.
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I think the actual number given out by the credit rating agencies was cuts of up to $4 trillion in order to avoid a downgrade.
They didn't even come close to reaching that, and at some point you can't just keep crying wolf. In other words the US has to PROVE that they will reduce spending and balance the budget. And considering that they couldn't even raise revenues by closing loopholes, I wouldn't be to optimistic that real changes will be made.