The debt debate goes on
As you know, after several months of negotiations, the House and the Senate passed a deal last week to raise the debt limit. Just when you thought the debt limit debate was over, it turns out it is really just getting started. Over the weekend, the credit rating agency Standard and Poor’s downgraded the United States’ long-term credit rating from AAA to AA+. One reason cited by S&P for the downgrade is that the debt limit plan agreed to by Congress and the Administration “falls short.” I voted no for essentially the same reason. This downgrade is another consequence of our nation’s debt problem.
