Economic Meltdown (seconda parte)

[kandrathe]

S&P lowered the US credit rating. That sort of sucks for the US.

http://www.reuters.com/article/2011/08/0...VF20110806

edit: http://en.wikipedia.org/wiki/List_of_cou...dit_rating

Yup. It's $100 billion that won't be spent on programs, but rather interest to banks. Interesting that they changed their tune on the reason. Before they said they might due to the partisan wrangling in Washington. Now, it's because the deficit reductions are too small. I think the real reason is that they are still a bit steamed up after they got hauled in front of congress and schooled due to the ratings on the derivatives that caused the whole 2008 recession.