The managing director of Standard and Poor’s credit rating agency says there is a one in three chance that the U.S. credit rating will downgrade further over the next six months to two years. John Chambers said on U.S. television Sunday that a further downgrade could happen if the U.S. fiscal position deteriorates further, or […]
Official: U.S. Credit Rating Could Downgrade Further
Posted August 7th, 2011 at 12:00 pm (UTC-5)
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S&P Defends US Credit Downgrade
Posted August 6th, 2011 at 9:15 pm (UTC-5)
Standard & Poor’s is standing firm on its decision to downgrade the U.S. credit rating amid criticism from U.S. officials that the downgrade was hasty and based on false information. S&P officials on Saturday defended their decision to drop the credit rating from the top rank of triple-A to double A-plus. They blamed Congress for […]
Obama: US ‘Must Do Better’ After Credit Downgrade
Posted August 6th, 2011 at 12:30 pm (UTC-5)
U.S. President Barack Obama says elected leaders “must do better” following an unprecedented downgrade of the country’s credit rating. A White House statement Saturday called the deal to reduce the country’s massive deficit while avoiding a default an important first step. But it called on lawmakers to put their partisan differences aside in order to […]
China Slams US on Credit Downgrade, Most Countries Cautious
Posted August 6th, 2011 at 11:55 am (UTC-5)
Countries around the world trying to assess the impact of the U.S. credit downgrade on the global economy are starting to speak out. China issued a stern warning to the United States Saturday, criticizing the country’s “debt addiction” and saying Washington needs to understand it can no longer borrow its way out of economic problems. […]
US Credit Downgrade Sparks More Political Jabs
Posted August 6th, 2011 at 10:25 am (UTC-5)
The first-ever U.S. credit downgrade is sparking a new round of political infighting over the country’s continuing economic woes. The Speaker of the U.S. House of Representatives, Republican John Boehner, blamed the downgrade on decades of reckless spending, accusing leading Democrats of refusing to make “tough choices.” Democratic Senate Majority Leader Harry Reid said the […]
Obama, Republicans Battle Over Jobs
Posted August 6th, 2011 at 9:10 am (UTC-5)
Part of the focus on the U.S. economy remains on the lackluster job market as millions of Americans struggle to find work. In his weekly address Saturday, U.S. President Barack Obama said the nation’s “urgent mission” has to be getting the economy growing faster and creating jobs. He called on Democrats and Republicans in Congress […]
US Loses AAA Credit Rating for First Time
Posted August 6th, 2011 at 5:50 am (UTC-5)
Credit rating agency Standard & Poor’s has downgraded the U.S. credit rating for the first time ever, from the top rank of triple-A to double-A-plus. S&P said it lowered the rating because the deficit reduction plan Congress passed on Tuesday did not go far enough to stabilize the country’s debt situation. The agency said Friday’s […]
China Urges US to Address Debt Problems
Posted August 6th, 2011 at 3:35 am (UTC-5)
Communist China gave the United States a stern lecture on capitalism Saturday, saying Washington needs to come to terms with the painful fact that the days when it could just borrow its way out of messes of its own making are gone. A stinging commentary by the official Xinhua news agency condemned the U.S. for […]
S&P Downgrades US Credit Rating for First Time
Posted August 5th, 2011 at 10:00 pm (UTC-5)
The credit rating agency Standard & Poor’s has downgraded the U.S. credit rating for the first time ever from the country’s elite triple-A status to double-A-plus, with a “negative outlook.” S&P said late Friday it made the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize […]
S&P Downgrades US Credit Rating for First Time
Posted August 5th, 2011 at 9:00 pm (UTC-5)
The credit rating agency Standard & Poor’s has downgraded the U.S. credit rating for the first time ever from the country’s elite triple-A status to double-A-plus. In a statement late Friday, S&P said it made the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the […]
