Even as credit agency Standard & Poor’s threatens to downgrade the credit rating of the United States – in fact, it’s all but inevitable at this point – the state of Ohio just got its credit rating upgraded, from “negative” to “stable.”
This action was taken because Republican Governor John Kasich was able to produce a budget that “will essentially balance the state’s finances for the next two years,” according to the Dayton Business Journal. This budget wiped out the largest shortfall in Ohio state history, without raising taxes.
How did he do it? Take it away, Governor Kasich: