Obama briefed on S&P downgrade before leaving W.House

WASHINGTON Sat Aug 6, 2011 8:44am IST

U.S. President Barack Obama talks about military veterans entering the workforce while at the Washington Navy Yard in Washington, August 5, 2011.  REUTERS/Larry Downing

U.S. President Barack Obama talks about military veterans entering the workforce while at the Washington Navy Yard in Washington, August 5, 2011.

Credit: Reuters/Larry Downing

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WASHINGTON (Reuters) - President Barack Obama was briefed in advance on Friday on Standard & Poor's intention to downgrade the United States' top-notch AAA credit rating and has continued receiving updates from top aides, an administration official said.

Obama left the White House for the Camp David presidential retreat outside Washington in late afternoon just hours before S&P's announcement. "He was briefed before he left for Camp David and has been receiving updates through the night," the official said.

(Reporting by Matt Spetalnick; Editing by Eric Beech)

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