China Critical of US Credit Rating Downgrade

US stocks tumbled Monday following the downgrading of the credit rating by Standard and Poor’s. The downgrade has also opened up the US to even more criticism about its economic policy — including by China. The official newspaper of China’s ruling Communist Party has lambasted the US for its credit rating downgrade. Anchor Lisa Mullins speaks with Nick Lardy, a senior fellow at the Peterson Institute for International Economics in Washington.