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On today’s edition of Coffee and Markets, Brad Jackson is joined by Pejman Yousefzadeh and Elizabeth Blackney to discus S&P’s potential downgrade of the United States’ credit rating and the eminent raising of our debit ceiling in Congress.
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Related Links:
Paging the New “Deficits Don’t Matter” Crowd
On Raising The Debt Ceiling
Tea Party: Cut Spending Before Raising Debt Ceiling
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Moe Lane
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Dan Spencer
If the Late Unpleasantness has taught us nothing else
romeg Wednesday, April 20th at 11:14AM EDT (link)It should have taught us that one’s credit rating is based less on one’s history of honoring one’s obligations than it is on the perception of one’s ability and willingness to act responsibly.
Announcing plans to spend trillions of dollars, 40% of which must be borrowed, betrays an utter lack of responsibility or an abject denial of the gravity of one’s financial predicament. Further, announcing plans to hobble one’s means of earning the income required to meet one’s obligations indicates a loss of touch with economic reality.
“Of all tyrannies a tyranny sincerely exercised for the good of its victim may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated, but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.” – C. S. Lewis
Great show.
Diogenes314 (Diary) Wednesday, April 20th at 3:12PM EDT (link)Very good discussion all around. You should have Elizabeth Blackney on more often.