S&P Warns of Second Downgrade

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One day after lowering the nation’s platinum triple-A credit rating, Standard & Poor’s analysts warned Saturday that the U.S. government could face a second downgrade if the economy continues to struggle and the government fails to make the cuts outlined in the debt ceiling agreement.

The ratings agency on Friday downgraded the nation to AA+ for the first time in history, saying partisanship in Washington is preventing dramatic deficit reduction.


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Hopefully people wake up.

Can anyone tell me why Standard and Poore's should be dictating U.S. policy? I see austerity as a policy preference of the moneyed, capitalist classes being forced upon the rest of the population to put them in a more servile position.