Friday, April 20, 2018
News: Page (1) of 1 - 08/06/11 Email this story to a friend. email article Print this page (Article printing at page facebook
S&P officials defend US credit downgrade
S&P officials defend US credit downgrade following criticism from administration
By The Associated Press

WASHINGTON (AP) ' Top officials of Standard & Poor's are defending their decision to downgrade the U.S. government's credit rating following Obama administration claims that it was a hasty decision based on faulty math.

The administration had tried to head off the downgrade announced late Friday. It told S&P that the agency had wrong calculations about the federal budget.

S&P officials say they came to a reasoned conclusion that the United States will have difficulty getting its soaring deficits under control. And they say S&P had given plenty of warnings that a downgrade could be coming if Congress and the Obama administration did not produce a credible deficit-cutting plan.

Page: 1


Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines