The S&P downgrade of 2011 was idiocy, and the Obama administration was right to crack down on them. S&P rates creditworthiness on the basis of default potential, and there’s no way in hell the U.S. government should have been considered a default risk.
> there’s no way in hell the U.S. government should have been considered a default risk <
True enough. The U.S. government will never default. But what’s the alternative to a default? They will never rein in spending. So the only alternative is to - eventually - crank up the printing presses. Pay back those loans with devalued money.
So yeah, I’d downgrade U.S. credit on that basis alone.