In an attempt to prevent the city of Madison from falling deeper in debt, recently sworn in Mayor Paul Soglin stalled construction on a public library project.
On Monday, for the first time since the attack on Pearl Harbor, Standard and Poor's downgraded its long-term outlook on American debt from ""stable"" to ""negative."" The downgrade served as a warning to U.S. policy makers that something needs to be done to address the country's growing debt crisis.
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