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The U.S. Credit Downgrade and Its Consequences

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Photo: Courtesy U.S. Congress

The agreement reached by Congress and the Obama administration to raise the nation's debt ceiling calls for more than $2 trillion in spending cuts.

The agreement to raise the debt ceiling that was recently reached by the Obama Administration and Congress calls for more than $2 trillion in spending cuts over the next decade—but those cuts are not enough for the S&P. The ratings agency downgraded the U.S. credit score from AAA to AA+ last week.

This week on Noon Edition, we sat down with Indiana economists Gary Lemon of DePauw and Cecil Bohanon of Ball State, and heard from former Butler University political scientist David Mason, author of The End of the American Century. We talked about what effects the U.S. credit rating downgrade may have on national and international markets, employment, and policy, and what it means for Indiana.

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