Robert ReichStandard &; Poor’s downgrade of America’s debt couldn’t come at a worse time. The result is likely to be higher borrowing costs for the government at all levels, and higher interest on your variable-rate mortgage, your auto loan, your credit card loans, and every other penny you borrow. So why did S&P do it?... Lire.
8/7/11
Robert Reich (Why S&P Has No Business Downgrading the U.S.)
Robert ReichStandard &; Poor’s downgrade of America’s debt couldn’t come at a worse time. The result is likely to be higher borrowing costs for the government at all levels, and higher interest on your variable-rate mortgage, your auto loan, your credit card loans, and every other penny you borrow. So why did S&P do it?... Lire.
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