So S&P keeps our AAA rating but downgrades our outlook. As well they should.
Standard & Poor’s on Monday downgraded the outlook for the United States to negative, saying it believes there’s a risk U.S. policymakers may not reach agreement on how to address the country’s long-term fiscal pressures.
The Fed has been too long controlled by the presidents, unwilling to say what needed to be said because of “possible damage to the (stock) markets” – not that anyone on the gov’t side has ever listened much to the Fed Chairman and the GAO much.
But they’re going to have to, and soon.
Congressional Republicans are trying to figure out which card to play next after the White House got into some high-stakes poker-playing over the weekend, with Treasury Secretary Timothy Geithner effectively calling the GOP’s bluff on the debt limit.
Republicans for weeks have threatened to withhold their support for raising the $14.3 trillion ceiling unless and until they see substantive commitments to cut spending and reform the budget. Washington is expected to hit that ceiling by next month. Even with the wiggle room Treasury might be able to create to extend the deadline, that doesn’t leave lawmakers a lot of time to reach a deal.
Tea egg pictures. Shot in bright light, not balanced, and generally they look as crappy as they never really did. I’ll play with the pic make it purty.