archer wrote: And to pay our bills? And to keep us from another downgrade,,,,which surely does affect our ability to service our debt.
They are all seriously playing with fire here and being arrogant. Risking more downgrades and the gift of historically low interest rates and a stable bond market is just insane.
If there is a relatively small uptick in interest rates it will immediately cancel out any minor budget cuts or new revenues from the tax increase.
+1.
One of these days the world markets will decide holding US Debt is a bad call and we will start having to pay 5% or more and you will see real problems. Herd mentality in the market.
Thomas Sowell: There are no solutions, just trade-offs.
