Standard & Poor’s (S&P) downgraded the rating of US Treasury Bonds from AAA to AA+ on 5/8/2011 (In India and some other countries 6/8/2011) and that shocked many. It is the first downgrade since 1917. The downgrade followed wrangling in US Congress over raising debt limit, which used to be a routine matter, from 14.3 trillion dollars. Since 1960 USA had raised debt limit 78 times without any problem but this time it was different. S&P stood out from Moody’s and Fitch which continued with AAA rating. Treasury Department criticized S&P. S&P justified its decision and said that if matters did not improve further downgrade to AA was possible.
Tag: us
America and Muslims
There are many Muslims who hate America. It is not just because of the Narrative. If some Americans think that for two decades the US foreign policy has been largely dedicated to rescuing Muslims or trying to help free them from tyranny – in Bosnia, Darfur, Kuwait, Somalia, Lebanon, Kurdistan, post-earthquake Pakistan, post-tsunami Indonesia, Iraq and Afghanistan – they are fooling themselves.