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This story first appeared in TheNation.com

The headline that topped the Drudge Report Tuesday morning had frightening news for its millions of readers: yet another credit ratings agency downgraded America’s debt, this time to “C”—at or near “junk” status in the letter-rating scales used by the big three ratings agencies, Standard & Poor’s, Moody’s and Fitch. Clicking on the link takes the reader to a CNBC article [1] headlined, “US Debt Rating Should Be ‘C’: Independent Agency.” (more…)

May 5th, 2011 | Comments (26)