But, but, but… I thought adding more debt was going to solve our debt ceiling crisis? Not so fast. Just like when a “deadbeat” puts his mortgage bill on a credit card instead of working to paying it off, the U.S. is not yet out of its debt quagmire.
Chinese ratings agency Dagong lowered the U.S. debt rating from A to A-, despite the champagne bottles popping off in Washington over raising the debt ceiling for the 54th time. This is what Dagong said, according to AFP: