In an interview with Dow Jones, Standard & Poor’s Ratings John Chambers said, “It is very important for the credit standing of the United States that the Congress considers very carefully what the fiscal commission proposes…It is very important for Congress to take the required steps.” Chambers is the chairman of S&P’s sovereign rating committee that just downgraded Ireland from AA to AA-.

This follows up the comments by S&P in July that warned the U.S. does not have unlimited fiscal flexibility. S&P still maintains their AAA rating for the U.S. but clearly is increasing the rhetoric and pressure to … …READ MORE