[normy]

Yeah, but just think of how many points the Dow would have dropped and much further our credit rating would have dropped if we wouldn't have done this and passed Cut,Cap and Balance instead /sarc

[Oldexpat]

S&P is a private company. Their office in Italy was just raided by the police. They can’t afford to PO the administration who can call in the IRS, SEC, FBI, etc. They had to downgrade to protect their reputation,but the downgrade is most of all because the of the size of the debt and it’s growth rate.