SYNDICATED COLUMN: Boycott the 2012 Election
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Hey Liberals! Time to Stop Getting Rolled We might as well have defaulted. Regardless of where you stand politically, the deal to raise the federal debt limit came too late for the U.S. to achieve its main objective, avoiding the downgrading of debt issued by the U.S. Treasury that would have followed a default. “The political and financial world surely thinks less of us now, and one demonstration of that will likely be a downgrading of the credit rating of the U.S., probably imposed in the next few months,” writes John Keefe of CBS’s Moneywatch. “The net result will be higher interest rates on U.S. government debt, which is likely to bleed through ultimately to higher costs for all sorts of other interest rates.” The buzz on Wall Street says that Standard & Poor’s will soon downgrade T-Notes from a sterling “AAA” either to “AA+” or “AA”, the same as Slovakia. That’s exactly what would have happened had there been…
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