After a fight over raising the debt limit last year, the credit rating agency Standard & Poor's yanked the U.S. government's blue-chip AAA bond rating because it feared that America's dysfunctional political system couldn't deliver a credible plan to reduce the federal government's debt. S&P warned that "the differences between political parties have proven to be extraordinarily difficult to bridge."The Dow dropped 635 points in panicked selling the first day of trading after the S&P announcement.
Political Brinksmanship Still Threatens US Economy
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