By EconMatters The biggest news last week (other than the $2.5-trillion that got wiped off global stock markets) is that Standard & Poor’s made good on its tough talk and downgraded the United States long-term credit rating one notch from AAA to AA+. S&P also has kept the outlook at “negative” meaning the U.S. has little chance of regaining the top rating in the near term. Moody’s and Fitch both affirmed their AAA credit ratings on Aug. 2, after President Obama signed a bill that ended the debt-ceiling impasse. This downgrade by S&P is the first ever in the rating history…
***This is a preview. Please click on the post title or go to http://www.econmatters.com for full content. ****
