Another Day, Another Downgrade

Another Day, Another Downgrade

In what seems to be becoming a weekly occurrence, yet another credit agency announced that it would be downgrading its credit rating for the United States.  The Washington Times is reporting that Egan-Jones will be downgrading its rating to AA- from AA, citing the Federal Reserve’s plans to stimulate the economy.

The agency says the Fed’s plan is more likely to hurt the economy than to help it.

The last downgrade from this rating agency came in April, when the United States slid from AA+ to AA.  The top AAA rating was lost in July 2011, during the debt ceiling debate.

For more information, read The Washington Times.


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