Peter Schiff : S&P did not Downgrade America low enough

Peter Schiff : S&P did the right thing and downgraded them , I think the only thing that they did wrong is they did not downgraded them far enough ,they did leave it at a double A+ with a negative watch and they did mention that they might bring it down to double A in the next couple of years if the fiscal situation deteriorates which it surely will , but I do not think the US deserves to be AA+ after all New Zealand is AA+ the New Zealand dollar is making record highs net public debt in New Zealand is about ten percent of the GDP , they're far more solvent than the United States , I'd much rather buy New Zealand's Government Bonds than US treasuries