Certainly the Tea Party changed the playing field. We have a start - no tax increases / immediate spending cuts.
Near term? The rating agencies have been discredited, profoundly so. A near term downgrade then means nothing substantive to anyone except the media.
Robert Craven
The rest of the work is put off to a "supercommittee," charged with lowering deficits by at least $1.5trl over the next decade. Their report is due Thanksgiving. Defense cuts are the most vulnerable, and tax hikes are possible. So no victory, yet.
Near term? The rating agencies have been discredited, profoundly so. A near term downgrade then means nothing substantive to anyone except the media.
Robert Craven
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