The Threat of a Downgrade...Again.
Because of an impasse.....again.
This is what happens when a "bipartisan super committee" is composed of politicians who put their sectarian political interests above the interests of the economy. Sure some of them are tax and budgetary experts, but the fact of the matter is, they are first and foremost politicians. I, along with the rest of the world, am waiting to see how they will reduce the U.S. deficit by at least $1.2 trillion by November 23. There should have been at least some direct input by economists or other figures with at least a semblance of knowledge of economic and budgetary matters that are not directly affected by petty politics.
Chances are, no one will budge until the wee hours of midnight set in and both sides are more governed by the frantic dumping out of water inside the sinking boat than by their political differences.........again.
I am simply hoping that this time around the frenzy to save the talks will amount to something substantial, instead of political chicanery that simply piles the brunt of the heavylifting onto some other "supercommitte."