WTVY - Florida News - Headlines

Posted: Sat 3:54 PM, Aug 06, 2011
Reporter: AP

S&P Defends Downgrade Move

WASHINGTON (AP) -- Top officials of Standard & Poor's defended downgrading the U.S. government's credit rating after the Obama
administration called the move a hasty decision based on faulty
math.

S&P officials insisted Saturday that they had come to a reasoned conclusion that the U.S. will have difficulty getting its soaring deficits under control.

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