Adam Sorensen at TIME wrote a quick blurb about S&P's rationale for lowering the U.S. government's credit rating. Specifically, he found fault in the political argument S&P made for its decision. While in the long run most economists feel that the downgrade in America's credit rating will have little effect, short term consequences are unclear, and Sorensen wonders weather or not an attack on America's political system by Standard & Poor's will result in anything positive. He also questions the validity of the argument - is the hyperpartisanship permeating out of Washington anything new? His blurb is a fascinating read! And, there's a chart!
Navigating the Roller Coaster Ride that is American Politics
Monday, August 8, 2011
S&P's Political Miscalculation
Adam Sorensen at TIME wrote a quick blurb about S&P's rationale for lowering the U.S. government's credit rating. Specifically, he found fault in the political argument S&P made for its decision. While in the long run most economists feel that the downgrade in America's credit rating will have little effect, short term consequences are unclear, and Sorensen wonders weather or not an attack on America's political system by Standard & Poor's will result in anything positive. He also questions the validity of the argument - is the hyperpartisanship permeating out of Washington anything new? His blurb is a fascinating read! And, there's a chart!
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