Obama, Republicans Close on Debt-Cut Amount, Goolsbee Says
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President Barack Obama’s chief economic adviser rejected the negative outlook Standard & Poor’s placed on the U.S. AAA credit rating as a “political judgment” that he said doesn’t deserve “too much weight.”
“They are saying their political judgment is that over the next two years they didn’t see a political agreement” to reduce long-term deficits, Austan Goolsbee, chairman of the Council of Economic Advisers, told Bloomberg Television’s InBusiness with Margaret Brennan. “I don’t think that the S&P’s political judgment is right.”