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October 16th, 2013
09:30 PM ET

What a deal means for U.S. credit rating

An agreement to end the partial government shutdown and avoid a possible U.S. default easily passed the Senate and headed to the House for a vote expected later Wednesday.

The man at the center of it all is not in Congress. He works for the credit rating agency Standard and Poor's. His rating of America's debt determines how much taxpayers pay in interest on our nations debt, our homes, our credit cards.

S&P announced today that it estimates the shutdown took $24 billion out of the U.S. economy.

OutFront: John Chambers, Managing Director, Standard & Poor's.

soundoff (One Response)
  1. Dave Woods

    After weeks of crisis the politicians are now back out glad- handing the voters. Unfortunately, our memories are too short and much of this recent fiasco will be forgotten by the next election. Now CNN is reporting that several pork projects are added into the bill to reopen the government. Voters deserve to know what these projects are and in whose district they are located. It's time to bring term limits because the pork trough is too habit forming.

    October 17, 2013 at 2:47 pm | Reply

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