Quote:
Originally Posted by geeker2
Actually that isn't the reason....it's the long term debt.
S&P said, “We believe there is a significant risk that congressional negotiations could result in no agreement on a medium-term fiscal strategy until after the fall 2012 congressional and presidential elections.” In such a case, the first budget that could include serious fiscal measures would be for the 2014 fiscal year, the report concluded, “and we believe a delay beyond that time is possible.”
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Yet what you quote proves my point, that yes, one of the reasons S & P (and the rest of the financial world, including our Wall Street which has warned the GOP about not effing with this for political reasons) isn't happy is our lack of serious responsibility-taking about the debt
What did you think of Tim Geithner's letter he sent to Reid in January of this year? (the link is in the Ezra Klein excerpt I posted).
We would have to raise the debt ceiling to avoid default even if we never accrued one more penny of charged debt.