Tuesday, August 2, 2011

Deal or No Deal, a US Downgrade Is Deserved

"Negotiations between President Barack Obama and congressional leaders found a sliver of common ground this weekend. Legislation to raise the debt ceiling now seems likely, giving the government headroom to operate until 2013. But a temporary ceasefire in this fiscal war will not address the country's longer run problems. The rating agencies are therefore justified in reconsidering America's triple-A credit rating..."

at http://www.piie.com/publications/opeds/oped.cfm?ResearchID=1894&utm_source=feedburner&utm_medium=%24%7Bfeed%7D&utm_campaign=Feed%3A+%24%7Bupdate%7D+%28%24%7BPIIE+Update%7D%29

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