We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. - S&P Analysis
Ahh it wont allow me to link to the standard and poors site that has the entire article because I dont have 15 posts as of yet :{ Above is an actual excerpt.
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. - S&P Analysis
Ahh it wont allow me to link to the standard and poors site that has the entire article because I dont have 15 posts as of yet :{ Above is an actual excerpt.