Well, they were raked over the coals (though more should have been done) when they were too lenient. Now they're being too strict, and are still getting crap for it.
I'm not a big fan, but from a 'credit worthiness' standpoint, I'm not surprised the US was downgraded. With the sorts of people running the show, we demonstrated that we were cavalier enough to nearly get to a point where we couldn't pay our bills. And the rhetoric coming out of the Congress was serious enough to contribute to this.
Perhaps this is an oversimplification, but if I kept broadcasting to the all my creditors as well as experien, transunion and equifax that I might not pay my debts, eventually that might factor in to my credit score. If I kept announcing that I might not pay, and my credit score was lowered, I shouldn't be surprised.
"With the sorts of people running the show, we demonstrated that we were cavalier enough to nearly get to a point where we couldn't pay our bills."
s/couldn't/wouldn't
Our ability to pay our bills at present was never in question. The issue was whether we would merely decide not to pay. That induces a certain queasiness in the upper deck cabins on the ship of state.
My understanding is that we wouldn't be able to pay 100% of all our obligations pretty soon after that. Yes, we could pay bond holders, at the expense of other obligations. I may have been misinformed, but that was my takeaway.
I'm not a big fan, but from a 'credit worthiness' standpoint, I'm not surprised the US was downgraded. With the sorts of people running the show, we demonstrated that we were cavalier enough to nearly get to a point where we couldn't pay our bills. And the rhetoric coming out of the Congress was serious enough to contribute to this.
Perhaps this is an oversimplification, but if I kept broadcasting to the all my creditors as well as experien, transunion and equifax that I might not pay my debts, eventually that might factor in to my credit score. If I kept announcing that I might not pay, and my credit score was lowered, I shouldn't be surprised.