Reply #22: You know without major budget cuts we may well be downgraded anyway? [View All]

[Imajika]

S&P and Moody's are both threatening that very thing. These corrupt ratings agencies are demanding massive cuts - much the way they have been doing in Europe. Hate to say it, but "austerity" is here now. We aren't talking about what things we can fund to spur the economy at all anymore, it's ONLY about what to slash and gut. There is literally no chance of any stimulus now, only thing on the plate is what pieces of the safety net to dismantle first.

If the President takes the Congress out of the loop where the debt ceiling is concerned, he will completely own it. The economy is in bad shape and may be on the verge of getting much worse, the President needs to make Republicans share in that not take all the blame for himself.