[mlocher]

I don't think anybody has commented on whether or not this plan will keep the rating agencies from downgrading our debt. At face value it won't -- $2.8T is not close to the $4T the rating agencies stated were necessary. My guess is that if this plan is true, the WH has been in close contact with the rating agencies to get their take on the plan.

Any comments?

[Mensius]

My guess is that if this plan is true, the WH has been in close contact with the rating agencies to get their take on the plan.

The rating agencies were in on the fix. Amazing timing to start talking downgrade in the midst of the negotiations. If they were objective, our bonds should have been downgraded many months if not years ago when it became obvious that our spending and liabilities were unsustainable and the pols had absolutely no will to reform.
Maybe the time horizon makes sense for AAA though, not sure how forward looking they rate. 1 year, 5, etc. Seems nuts though when we are peddling 30 yr bonds... One thing is certain however, our bonds will be downgraded sooner rather than later. Inevitable.