Standard and Poor's Statement blames Republicans for Economic Downgrade

United States of America Long-Term
Rating Lowered To 'AA+' On
Political Risks And Rising Debt
Burden; Outlook Negative

"We have changed our assumption on this because the majority
of Republicans in Congress continue to resist any measure that would raise
revenues, a position we believe Congress reinforced by passing the act."

"Republicans and
Democrats have only been able to agree to relatively modest savings on
discretionary spending while delegating to the Select Committee decisions on
more comprehensive measures. It appears that for now, new revenues have
dropped down on the menu of policy options."


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