Fiscal Sustainability

Final Word On S&P Downgrade. And A Way Forward.

Before the S&P downgrade last Friday, I wrote the following about the debt deal: I have said little about the default possibility simply because I estimated the possibility at near-zero. From my point-of-view what happened was an enormous and bogus media campaign getting people worked up about something an then an illusion that something had

Final Word On S&P Downgrade. And A Way Forward.

Before the S&P downgrade last Friday, I wrote the following about the debt deal: I have said little about the default possibility simply because I estimated the possibility at near-zero. From my point-of-view what happened was an enormous and bogus media campaign getting people worked up about something an then an illusion that something had