Posted by: Barthélemy Barbancourt in Blog on Sep 26, 2011
Minnesota's budget mess continues to smack the state with bad news.
On Friday, Standard and Poor's bond rating agency downgraded the state's grade from AAA to AA+. The agency, one of three big ratings firms, was the last to hold Minnesota's rating as perfect and now that is gone.
"The downgrade reflects what we view as the state's ongoing reliance on nonrecurring measures to balance its budget, which we believe will contribute to continued structural imbalance," said Standard & Poor's credit analyst Robin Prunty.
Could someone please tell liberals that the party is over and the bill is due.