The Washington Post reports that the Obama administration asked S&P not to give a "negative" outlook report on federal debt. Kind of sucks when other people won't go along with your rosy predictions, huh?
What frustrates me is that people will not do a thing about it until the crisis hits hard, at which point it will be too late to do anything about it. Not that they would do much but complain about it anyway, usually with faulty economics and politics (fields that they never studied in the first place). I would like to say it isn't a systemic problem in democracies, but the overwhelming evidence seems to be otherwise.
Oh well, pass the dutchie on the right hand side.