S&P warns that chance of downgrading U.S. credit rating is 50 percent

The Washington Post reports:

The ratings agency Standard & Poor’s warned Thursday that there is a 50 percent chance that it will downgrade the U.S. government’s credit rating within three months because of the stalemate over raising the debt limit.

It placed the U.S. on “CreditWatch with negative implications,” according to a statement.

Great moments in the welfare-warfare state.