The simplistic, if understandable, answer to that question for many conservatives is right now. The national debt has surpassed our GDP, we're borrowing 40 cents of every dollar we spend, and our unpaid-for federal obligations already exceed $80 trillion. We're in dire straits; there's no escaping that. But there's also no escaping certain political realities: The public isn't feeling especially charitable toward Congressional Republicans these days, Democrats control 55 Senate seats, and this president will occupy the Oval Office for the next four years. If the GOP is seeking to apply pressure on the Left to improve our...
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Brace fo another downgrade. ... The major credit rating agencies are warning of another downgrade of US debt securities. Today in MarketWatch ...... : .. " Fitch warned that if policy makers fail to come up with a credible medium-term deficit reduction plan that can restore confidence in public finances, "the current negative outlook on the AAA rating is likely to be resolved with a downgrade later this year even if another debt ceiling crisis is averted."
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