We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues......if the recommendations of the Congressional Joint Select Committee on Deficit Reduction--independently or coupled with other initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal consolidation measures beyond the minimum mandated...
The options are more taxes or cut spending to make s&P happy.
I chose cut spending.
The entire planet would like nothing better than for the US to take or current debt x 10.
They don’t have to repay it.