Important Piece

Yesterday a member of the S&P credit rating board said for the first time that politicians suggesting a temporary US default might not be so bad was a key reason in itself for the S&P’s downgrade of US debt. In response congressional Republicans are today pressing the point that they never doubted the seriousness of the US going into default. And some other publications are accepting that claim at face value. But there are actually numerous examples of top congressional Republicans openly doubting whether a temporary US default would really be such a big deal.