It's only been one day since ratings agency Standard & Poor's downgraded the U.S. Government's credit rating from AAA to AA+, and already I've been forced to kill two people who tried to steal my food. And it could get worse! The agency says there's a one-in-three chance the U.S. will be downgraded again.
John Chambers, the managing director of the agency, was acting the hardman on ABC this morning:
The credit rating agency's managing director, John Chambers, told ABC's "This Week" that if the fiscal position of the U.S. deteriorates further, or if political gridlock tightens even more, a further downgrade is possible.
Chambers also said that it would take "stabilization and eventual decline" of the federal debt as a share of the economy as well as more consensus in Washington for the U.S. to win back a top rating.
Okay, bro! Cool! More consensus! We'll get right on that! Meanwhile, the Chamber of Commerce announced that it disagreed with the default; the White House, for its part, is trying to brand the decision as "the Tea Party Downgrade" (because the "grand bargain" debt deal struck between President Obama and Speaker of the House John Boehner was capsized by the Republican far-right); Republican candidates all blame Obama, because, duh; I blame you, and the fact that you keep leaving the lights on.
Either way, the Asian markets open tonight, and tomorrow you will likely wake up to the smoldering ruins of liberal capitalist democracy. It was fun while it lasted!