Hahahahaha. Bill, you didn't even use the whole sentence and replaced the comma with a period. Shame, shame, shame.Hawk wrote:
Brinkmanship is directly related to the exact quote I gave you in the proper context. Spin all you want.
Are you suggesting that S&P has a brinkmanship scale that tells them when to downgrade somebody for being haughty? When to upgrade them for playing nice with others?
They use numbers, pure and simple--well maybe not simple. Read the statement. When they updated the data for their base model, projected GDP and revenues were lower and projected interest rates and spending were higher. When they crunched the numbers, the result suggested that in the out years, the US government might have trouble meeting its obligations.
I would take some issue with their assumption that the Bush tax cuts remain in place even after their scheduled expiration at the end of 2012. Since no congressional action is necessary for them to expire, S&P is implying that the government at that time or after the 2012 election will favor extending them again thru legislation. Do you really think this senate or president will approve that?
It sounds like they are predicting a republican takeover in 2012.