United States Debt Downgraded by Standard and Poor’s, Big Hit

On Friday the 5th, officials at ratings from Standard and Poor stated that the United States Treasury debt no longer deserved to be looked at among the safest investments in the world. Therefore Standard and Poor removed the triple A rating that the United States has been holding on to for seventy years. Standard and Poor say that the budget deal that has been recently brokered in Washington did not do enough to help the rising finances that America is responsible for.[readnext]

The rating that the United States had previous to Friday was AAA and it was downgraded to A-1+. The negative symbol on this rating means that the United States has very little chance of regaining the top rating in future. This rating took many hours to be released because after S&P notified treasury officials of the downgrade and their findings, the treasury noticed a 2 trillion dollar error in the Standard and Poor’s math. After the correct math was calculated, Standard and Poor still felt that the United States did not deserve their triple A rating.