Debt ceiling deal fuels anxious nation on recession fears
US voters see jobs and growth falter after a bipartite debt limit deal. S&P downgrades the credit rating to AA plus as economists warn of a possible new recession, while investors flee stocks for Treasuries.
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Moody’s Analyt
China lashes US over debts in official commentary
China criticized the United States for an addiction to debt and failure to live within means in a New China News Agency commentary responding to S&P’s downgrade. It warned without substantial cuts in military and welfare spending the downgrade could trigger further global financial turmoil.
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Obama urges better effort after credit rating downgrade
President Obama sought to distance himself from the first ever U S credit downgrade as lawmakers traded blame. White House press secretary Jay Carney said Washington must do better tackling deficits while noting the $2 trillion borrowing limit deal was too divisive and fell short of stabilizing debt dynamics.
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