With the debt-ceiling legislation signed into law Tuesday afternoon, the nation no longer needs to worry about defaultmageddon, at least not until early 2013. That's when the U.S. Treasury once again runs out of room to borrow again. Even though there wasn't a default this time, the partisan fight left plenty of wreckage lying about.
The rating agency said the debt ceiling agreement is a step in the right direction for the country and said the chances of a default on its debt remain "extremely low."
President Obama has signed into law a deal to raise the debt ceiling, fending off a national default, which he warned could roil the markets and leave the U.S. without enough money to pay its bills.