Friday, August 5, 2011

In Monumental Move, S&P Set to Downgrade US Gov’t Credit Rating

by Dr. Boyce Watkins, Your Black WorldScholarship in Action

According to CNN, the Standard & Poor’s rating agency has told the Obama Administration that it plans to downgrade the U.S government’s AAA credit rating.  The ruling has not been announced to the public and it is reportedly being challenged by the White House.  The move would be unprecedented, for the United States has long been considered one of the most credit-worthy financial entities in the world.

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