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Do you think S&P would have lowered our rating if there had been no debt ceiling drama?
Asked by cockswain (15276)
August 8th, 2011
S&P has said the rationale is because of political gridlock as well as the size of the debt itself, but if I understand it correctly it is more because of the size of the debt. More specifically the ratio of debt/GDP. But do you think they would have decided that this year was the year we had to have a plan to lower the debt by $4T without all the debt ceiling drama in Congress? Supposing we’d just quietly raised the debt ceiling as we usually have for decades, with little fanfare and maybe a mention a few pages down in the newspaper. Do you think all the attention caused them to give us more attention?
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