An epic humiliation

By Cristina Lindblad and Peter Coy

PHOTOGRAPHS Newseum (14)

As the world watched, Democrats and Republicans averted a debt default on Aug. 1, 2011, by agreeing to reduce spending by at least $2.1 trillion over 10 years. That didn’t satisfy Standard & Poor’s; days later it lowered the U.S.’s credit rating to AA+.


“Obama weakened by debt drama”


“The Senate decides the fate of the U.S. today”


“Debt talks down to wire”


“Obama regroups after approving deal”


“The humbling of America”


“Uncertainty until the very end”


“The markets also punish the U.S.”

SOURCE Newseum


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