US Credit : No Longer the Best

ON the day when the US nationalizes 1.6 of it’s economy, word comes that the US may lose it’s AAA credit rating.  The first cracks in the US ability to get credit are already appearing : Warren Buffet can now borrow money on better terms than the US government.

This is the first time since I have been alive that the US credit rating isn’t the best in the world.  Can any economists out there tell me when this last occurred.   I think it is clear that this is simply a sign of things to come.

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