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Although an 11th-hour agreement on the debt ceiling by the congressional leadership was reached, and the US was not forced to default, the collateral damage of this debate was evident late Friday evening when Standard & Poor‘s announced that it was downgrading the US credit rating from AAA to AA
With less than two weeks to go before the U.S. debt ceiling is penetrated, House Speaker John Boehner (R-OH) abruptly announced that he was pulling out of his seemingly positive negotiations with President Obama
House Speaker John Boehner (R-OH) spoke to a skeptical audience at the Economic Council of New York on Monday, stating his preference for a successful compromise in the short-term on deficit reduction, in exchange for raising the debt ceiling, while putting off corporate tax reform for some time in the next two years
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