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Originally Posted by HPLovecraft
I'm not that knowledgeable on the subject, but I feel that what S&P did was more a result of the political situation in the USA than strictly because of the economic state of it.
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Yah they said as much. They mentioned different "pillars" they look at like the debt level, the GDP, political stability, job market, and politically functionality. The fact that the government can't seem to move meaningfullly to address their debt problem was the last straw.
I guess they noticed that all the proposed cuts were in essence future cuts. Even the proposed December cuts are meaningless as both the Democrats and the Republicans could vote to extend the time the committee has to draft a plan. It's no wonder the Tea party mostly rejected the plan.