Item: America’s credit rating in jeopardy: Standard & Poor’s issues warning on U.S. debt/AP, Spokesman-Review

More Info: An unexpected warning by a major credit agency on America’s soaring debt shocked global investors and threatened still wider consequences for the U.S. economy, even as a new sense of realism emerged in the stalemate between President Barack Obama and congressional Republicans over fiscal policy. The warning came in the form of a downgrade by an independent credit agency in its assessment of the deficit problem.

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