Quote:
Originally Posted by Riot
Not raising the debt ceiling isn't an action that cuts spending and borrowing, is it?
And what what type of talk has negatively influenced that recent S & P announcement? Oh, yeah - politicos yammering on about doing something completely idiotic, not raising the debt ceiling.
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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.”