Debt Ratings Are Like The Emmys

Four years ago today, the U.S. debt rating by Standard & Poor’s was downgraded from AAA to AA+. An assortment of politicians and rich people warned us this would be a day we’d never forget. We forgot. On The Gist, Adam Davidson explains the surprising power private credit ratings agencies such as S&P, Moody’s and Fitch have been given by the U.S., and what that means for global development. He’s a contributor to New York Times Magazine and a founder of NPR’s Planet Money.  Also, Adam Davidson is hosting a new podcast with Adam McKay called Awesome Boring. Here’s a teaser. For the Spiel, the GOP debates have to do with the future of the Republican Party. Today’s sponsor: Casper, the online retailer of premium mattresses for a fraction of the price. Get $50 toward any mattress purchase by visiting casper.com/gist and using the promo code GIST.  Join Slate Plus! Members get bonus segments, exclusive member-only podcasts, and more. Sign up for a free trial today at slate.com/gistplus Learn more about your ad choices. Visit podcastchoices.com/adchoices