U.S. Credit Rating Downgraded

Aug 6, 2011

Standard & Poor's has lowered its long-term credit rating on the United States from AAA to AA-plus. It also says the outlook on the long-term rating is negative. The ratings agency says its action comes because of the prolonged controversy over raising the debt ceiling and other fiscal policy. Host Scott Simon talks with NPR business reporter Tamara Keith about the downgrade.