THE POLITICS OF DEBT.

The article provides insights into the credit worthiness of the U.S. government. According to the author, credit rating agency Standard & Poor's Ratings Services changed the rating of the government to negative from a rating of top AAA since 1941. He adds that the government's net indebtedness has increased by almost half of national income from 33 percent of gross domestic product in 2001 to 75 percent in 2011. The impact of the rating on the image of the U.S. government is discussed.