Daily Kos: U.S. credit rating downgraded for first

The locomote came amid a textured week, economy-wise, with the Dow descending and handle mart slippy for nine continuous sessions. On Thursday the Dow dropped 4.31 proportionality – 512 points – erasing the gains prefabricated so far in 2011.

S&P’s downgrade comes after Legislature placed on an understanding originally this period to raise the debt cap. S&P was the one bureau that warned throughout the discuss that the nation’s deficiency problem necessary to be tackled with a debt ending process, cooperative with important disbursement cuts.

The agencies Moody’s and Fitch upheld the nation’s AAA rating Tues after Chairman Barack Obama subscribed the debt lot into law.

Daily Kos: U.S. credit rating downgraded for first