There are many aspects of the debt ceiling talks that are untoward. The political posturing. The lack of compromise. The somewhat terrifying reality that the U.S. might not be able to pay its bills.
But one part of the whole affair is really irritating: the righteous indignation of the rating agencies.
In case you haven’t noticed, Washington is currently consumed in an acrimonious debate over whether to raise the debt ceiling. There is no agreement about whether to do so or how, but both parties appear to accept the logic …
One of America’s favorite pastimes is to play the “what would the Founding Fathers say” game. Just pick an issue du jour, and ask the question. Given that today’s world (Google, Twitter, television) is probably way beyond …
If the economic news wasn’t bad enough after the release of yet another anemic jobs report, the highly influential global ratings agency Moody’s just announced that it was contemplating a downgrade of the U.S.’s credit rating.
