01/10/2013 04:30 pm ET

S&P Responds To The Trillion Dollar Coin

Flickr: DonkeyHotey

After the Budget Control Act of 2011 was passed, after the debt limit was raised, Standard & Poor's made good on a threat to lower America's credit rating. "Te downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges," the ratings agency argued.

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