S&P Revises US Credit

Talk about fickle. In the summer of 2011, S&P was the first credit-rating agency to downgrade America’s credit rating from “AAA” to “AA.” And with the embarrassing debt-ceiling debate as a backdrop, it projected that the outlook for America’s trillions of dollars in debt was “negative.” On Monday, after months of improvement in America’s short-term fiscal situation–a shrinking deficit, declining growth in Medicare spending—S&P has upgraded the U.S. credit outlook to “stable.” USA! USA!