Quote:
Originally Posted by mookiemookie
The Federal Reserve doesn't control the nation's purse strings. Secondly, the methodology makes all the difference, because that's what the downgrade is based on. I find it curious that S&P arrived at a completely different set of numbers than Moody's or Fitch.
Also, why didn't they wait until the results of the debt reduction committee came in?
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I guess they waited to see if congress would get serious about spending cuts. In reality we're just cutting billions, not trillions. I highly doubt when it gets to tough cuts they will follow through.