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    Two Years After Downgrade, U.S. Credit Rating Hasn’t Recovered—and Debt Is Worse

    Two years ago today, Standard & Poor’s downgraded the U.S. credit rating—and it hasn’t recovered since. Then, the downgrade came because the President and Congress failed to resolve the long-term spending and debt crisis. Now, the situation is even worse. Congress and the President should rein in out-of-control spending and … More

    Morning Bell: It's the Spending

    On Friday evening, Standard & Poor’s (S&P) downgraded the U.S. credit rating from AAA to AA+. As we and other conservatives warned, the spending reductions in the deal negotiated by President Obama to raise the debt ceiling were inadequate, and S&P reacted as we predicted but sooner. Neither Moody’s nor … More

    U.S. Debt Now Surpasses 2010 GDP

    The U.S. Treasury Department came out today with its Debt Position and Activity Report for July. The news is bleak. With the additional $238 billion the Treasury immediately borrowed when the debt ceiling was raised on August 2, total current debt now exceeds 2010 gross domestic product (GDP) for the … More

    What the S&P's Warning on Spending Means for America

    United States government, be forewarned: Your credit won’t always be good if you fail to get control of the debt while keeping up your big-spending ways. And merely raising the debt limit won’t be enough to solve your problems. That was the message delivered yesterday by Standard & Poor’s (S&P) … More