Are there standards that govern exactly what constitutes an AAA vs an AA? If so, who makes those standards? S&P? A third party that oversees all these organizations? If the standards are vague, then it's all subject to interpretation. One person saying it's AA might be the same as another saying it's AAA. S&P isn't giving a perfect rating to the USA... because the USA debt situation isn't perfect. I mean, we judge human beings the same way - noone's perfect. Why should we be any different towards the USA? Just because it supports democracy, has an emotional national anthem, and has a rich history? NO.