CrushTheStreet ALERT --- U.S. Credit Rating DOWNGRADED 8-5-11

489 views · Published 6 August 2011 · 1:06 · Indexed 11 October 2026

Channel: Crush The Street · 2011 · News & Politics

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Credit Rating Agency Standard & Poor's has just downgraded the United States credit rating from triple AAA to AA+, this is the first time in history a major credit rating agency has downgraded the United States.

The explanation given basically states that the deal just reached by Congress is not enough to stabilize U.S. government and stop out of control spending. They also state that our policymaking is becoming less stable, less effective and less predictable.

This is no great surprise to CrushTheStreet.com but it may be to Treasury Secretary Timothy Geither who had said in April this year that there was no risk of a downgrade.

It should be very soon that we see another rating agency issue a U.S. downgrade.

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