Daily Q August 10: S&P Downgrade

Lindenhurst Patch wants to know what local residents feel about everything from today’s important issues to the not so important. So Patch will ask Lindy residents to in this about a hot topic of the day.

Today’s question:

The U.S. has seen its credit rating go down for the first time in history. After previously warning the U.S. during - that this might happen, Standard and Poor’s has given the country an AA+ rating, down from a AAA rating, which led to the S&P’s “negative outlook” on the nation’s credit.

While the other two major credit-rating agencies – Fitch and Moody’s – have kept the country at AAA, S&P’s downgrade caused a sharp stock market drop Monday, and the stock market continues to flounder a bit.

S&P blamed the recent bickering over the debt ceiling deal, but some have criticized the move.

So Patch was wondering:

• Should S&P have downgraded the U.S.?