The labour market is weakening at a pace that has in the past heralded recession.
Investigators are focusing on a $50 piece of nylon webbing that may have been weakened at a critical moment.
"The effectiveness, stability, and predictability of American policy making and political institutions have weakened at a time of ongoing fiscal and economic challenges," it said.
But India may not be a rising power at all: its state authority is simply weakening at a slower pace, and in more nuanced ways, than Pakistan's.
Uruguay will allow its currency to weaken at a faster pace to offset a falling currency in Brazil and a devaluation for trade in neighboring Argentina.
"The downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenge," the company said in a statement.
"The effectiveness, stability, and predictability of American policy-making and political institutions have weakened at a time of ongoing fiscal and economic challenges," wrote S.& P. in its downgrade report.
Standard & Poor's, a larger credit rating agency, downgraded United States debt a notch in August 2011 after the last standoff over the federal debt limit, reflecting "our view that the effectiveness, stability, and predictability of American policy making and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned".
Standard & Poor's, one of the three major rating agencies that evaluates debt, said in a statement that "the downgrade reflects our view that the effectiveness, stability, and predictability of American policy making and political institutions have weakened at a time of ongoing fiscal and economic challenges".
Excerpts from Standard & Poor's report, "United States of America Long-Term Rating Lowered To 'AA+' On Political Risks And Rising Debt Burden; Outlook Negative," Aug. 5, 2011: The downgrade reflects our view that the effectiveness, stability, and predictability of American policy making and political institutions have weakened at a time of ongoing fiscal and economic challenges.
