Standard & Poor’s Ratings Service has downgraded the credit rating for the New York State Thruway Authority, over concerns about toll increases after the new Tappan Zee Bridge is complete.
Administration officials privately called S&P’s analysis flawed. But Obama himself refrained from comment as he spent the weekend at Camp David.
On Wall Street, all three major indices dropped more than 2 percent Tuesday following news that consumers cut their spending in June.
The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday fell 1.3 percent in October from September.