For the 1st time in history the U.S. Credit Rating is downgraded from 'AAA'On Friday August 5, 2011, (S&P) Standard & Poor's lowered the United States top-tier credit rating from AAA to AA-plus. S&P said they decided to cut the long-term U.S. credit rating because of worries about the government's budget deficit and rising debt. Some people are suggesting this action by S&P may lead to higher borrowing costs for the U.S. government, companies and consumers. Read Full Article
