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What did it accomplish? Why, it postponed any realistic action on the debt until after the election, of course. What did you think the politicians wanted to accomplish? They did exactly what I thought they would, which is what their real goal was, put it off until 2013. As for the "crisis" started by S &P and their downgrading of the US credit, it's much ado about nothing. For one thing, it's based on faulty math, a "tiny" $2 teradolllar error. For another, there are two other credit agencies who haven't yet been heard from. Thirdly, going from AAA to AA+ isn't going to have an impact on either government or individual borrowing.In other words, it's still business as usual, nothing to see here, folks, just move along now.
What did it accomplish? Why, it postponed any realistic action on the debt until after the election, of course. What did you think the politicians wanted to accomplish? They did exactly what I thought they would, which is what their real goal was, put it off until 2013.
As for the "crisis" started by S &P and their downgrading of the US credit, it's much ado about nothing. For one thing, it's based on faulty math, a "tiny" $2 teradolllar error. For another, there are two other credit agencies who haven't yet been heard from. Thirdly, going from AAA to AA+ isn't going to have an impact on either government or individual borrowing.
In other words, it's still business as usual, nothing to see here, folks, just move along now.
