Daunting debt limit dynamics
Goldman Sachs Exchanges
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S&P's 2011 Downgrade of the US Credit Rating Was Not Motivated by the Debt Limit Process
beer says S&P's 2011 downgrade of the US credit rating under his watch was not motivated by the contentious debt limit process. In fact, the downgrade came after the debt limit had been raised. Beer: The underlying fiscal dynamics of the US have actually deteriorated compared to what S&P was expecting.
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