In response to:

Congress Avoids the Cliff by Selling Us Down the River

poorgrandchildren.com2 Wrote: Jan 04, 2013 8:39 AM
Use the Ponzi solution. Force more of our descendants to "invest" in our schemes in the form of increased public debt, and maybe these schemes will implode later rather than sooner.

With the possible exception of the New York Times' editorial board (and the cast of The Jersey Shore), everyone on the planet understood that the United States Government needs to cut spending, increase taxes, or both. Instead, after months of political posturing and hand wringing, the Federal Government has just delivered the exact opposite, a deal that increases spending and decreases taxes. The move lays bare the emptiness of budget legislation, which can be dismantled far easier than it can be constructed.

One question that should be now asked is whether Moody's Research will finally join S&P in downgrading the Treasury...