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$2 trillion error in S&P calculations: US

The US treasury hit back against a Standard and Poor's downgrade of its AAA credit rating, saying there was a $2 trillion dollar error in the agency's calculations.

business Updated: Aug 06, 2011 07:12 IST

The US Treasury hit back against a Standard and Poor's downgrade of its AAA credit rating, saying there was a $2 trillion dollar error in the agency's calculations.

"A judgment flawed by a 2 trillion dollar error speaks for itself," a Treasury spokesman said, just after the US lost its AAA rating for the first time ever and was downgraded to a AA+.