Standard & Poor's Getting Heat for Downgrade Decision | The Nation

Standard & Poor's Getting Heat for Downgrade Decision | The Nation

The decision to issue a downgrade—despite the fact that interest rates for US Treasury bonds remain at near-historic lows, and alack of any evidence the country won’t be able to honor its obligations—has already been criticized by several powerful Washington players. Senator Tim Johnson, chairman of the Senate Committee on Banking, Housing and Urban Affairs,blasted the decision last week in a statement. “In the minds of serious, reasonable, and informed individuals there is no doubt that the US will meet its debt,” he said. “I am deeply disappointed in S&P’s decision to enter into the game of political punditry.”