Could be Spain is rated too high. The $2 trillion ‘mistake’ really doesn’t matter as S&P had warned of downgrade if at least $4 trillion in spending reductions/revenue enhancement was not made. And that was just a ‘down payment’. I believe S&P gave at least 3 very public warnings of downgrade if the deficit and debt were not adequately addressed before and during the debt ceiling debate. The downgrade was very much deserved. We are only ‘better’ than Spain in the sense that Spain is a turd sinking and we are still floating.....for now.
I thought about that too. If that’s the case...then they are still not very trust worthy and not using good judgment.