Ezra Klein thinks Standard & Poor's reevaluation of the nation's ability to handle its debt reflects on the fact that Congress is prone to inaction:
Here’s what Standard Poor said yesterday: at some point in the nearish future, the United States government is going to need to pass some laws putting us on a better fiscal path. But there’s a good chance that members of the two parties will disagree on what those laws should include, and since Congress’s natural state of existence is paralysis, it’s easy to imagine that we’ll wake up on Jan 1st, 2014, and nothing will have happened. If you seriously think there’s anything surprising, or even unconventional, in that analysis, you should pick up the paper once in awhile.
also:
- S&P Warns: Fix The Deficit, Or Else.
