Looking for Someoen to Blame; America's Downgrade  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 400 no. 8746 (Aug. 2011), page 23-24.
Topik: Credit Ratings; Rating Services; Politicians; Conflict; National Debt; Fiscal Policy; Presidents

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.67 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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This has been a bleak moment for America, and the darkest of Barack Obama's presidency so far. On Friday August 5th Standard & Poor's downgraded the country's credit rating from AAA to AA+. The next day American troops in Afghanistan suffered their biggest single loss in the decade-long war when the downing of a helicopter killed 30 Americans (and eight Afghans), including 22 elite Navy SEALs, the unit that killed Osama bin Laden in Pakistan in May. On August 8th Obama addressed the nation from the State Dining Room of the White House in a bid to soothe nerves and markets. He gave a terse speech that repeated many of the themes he has been replaying like a gramophone record throughout the summer, and especially during his bruising fight with the Republicans in Congress over raising the debt ceiling. From the moment of S&P's decision, the government has worked hard to discredit its analysis. But whatever the flaws in its financial logic, S&P's political analysis is spot on. In light of the brinkmanship of the recent months, it argues, America's governance and policymaking are becoming "less stable, less effective and less predictable". As if to prove the firm's point, America's politicians responded by turning instantly to the urgent business of blaming the other side for what had gone wrong. While the politicians apportion blame, voters are drawing their own conclusions.

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