ENLARGE PHOTO +Standard & Poor's headquarters in the financial district of New York on August 6, 2011. The United States' credit rating was cut for the first time ever August 5 when Standard and Poor's lowered it from triple-A to AA+, citing the country's looming deficit burden and weak policy-making process. AFP PHOTO/Stan HONDA (Photo credit should read STAN HONDA/AFP/Getty Images)
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Bloomberg: S&P finds itself criticized "for making a political decision that has more to do with Tea Party politics than the financial stability of the U.S."
NYT: S&P downgrade "is almost sure to increase pressure on a new Congressional “supercommittee” to mute ideological disagreements and recommend a package of deficit-reduction measures far exceeding its original goal of at least $1.5 trillion."
WSJ points out the irony that "Republicans and Democrats each blamed the other for the downgrade—even though political polarization over debt was one cause S&P cited for its cut."
Plus: "The Obama administration and ratings firm Standard & Poor's have embarked on a battle for credibility that could shape the ultimate impact of the U.S. debt downgrade—as well as their own reputations."
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