On MSNBC’s Morning Joe this week (8/8/11), we discussed S&P’s decision to downgrade the US’ credit rating and their reasons for doing so. In the charts below, we compare our debt and deficit to 5 European nations – Germany, France, the UK, Belgium, and Spain. On the surface, it appears that the US economy is not in bad enough shape, comparatively speaking, to merit the downgrade, but in the second chart, we can see that our projected debt to GDP level continues to rise over the next ten years, which is what S&P is concerned about. Please see the charts and video below.
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