“Someone wants to downgrade us? Fine. Theyre just along for the ride too.”
This is just a crock. If the Super Committee fails to produce the cuts, there are automatic cuts that are triggered, so where is the beef to the economists? The cuts still take place, the only difference is where those cuts will be made. But a cut is a cut is a cut. So why would the economists threaten downgrades if cuts are being made, one way or the other?
So if Moody’s, S&Poor’s, etc. downgrade, they are doing it for reasons other than a lack of cuts. They are doing it for political reasons, or as a power trip, or to get revenge for the gov’t going after them for their prior lousy forecasts, or just because they want headlines. Whatever the true reason, it isn’t because of the cuts, or any lack thereof.
If the super committee comes up with nothing, that deal will have failed and underscore the same process problems.
In that light, another downgrade makes as much sense as the earlier one.
“This is just a crock”
Your entire post reinforces the notion that, yes, we’re just along for the ride now.