Tag Archives: s&p

Stacy Summary: As Max has said over and over, the U.S. would be downgraded. And so it begins.

• For first time in history, US is downgraded

Lowering the nation’s rating one-notch below AAA, the credit rating company said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to manage its finances “less stable, less effective and less predictable.” It said the bi-partisan agreement reached this week to find at least $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would not be likely to achieve more savings later on.

Most recent appearance in which Max said American debt would be downgraded: