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This isn't whining - the Treasury isn't simply complaining about the downgrade. They are pointing out a fact that the original justification for the downgrade w
by nick007 15y ago
This isn't whining - the Treasury isn't simply complaining about the downgrade. They are pointing out a fact that the original justification for the downgrade was proved to be wrong, yet after realizing this S&P maintained the same conclusion based on a different set of justifications.
This would be like a student pointing out that the teacher incorrectly graded his paper; and after acknowledging that fact, the teacher maintains the same grade.
- btilly 15y agoIt is worse than that. In the original guidance that S&P gave, their target level of deficits for the USA was exactly what the real plan, without their mistake, was. So the government actually is achieving exactly what S&P wanted them to achieve. For better or for worse I believe that the reason for S&P's downgrade is that they gave guidance of $4 trillion, they didn't see a $4 trillion deal, and they would be embarrassed if they failed to downgrade given how publicly they said that they would if they didn't see $4 trillion.
- shaggyfrog 15y ago> This would be like a student pointing out that the teacher incorrectly graded his paper; and after acknowledging that fact, the teacher maintains the same grade. Way back when I was a university undergrad, I got a 0 for a proof on a statistics exam, but the proof was correct. When I showed this to the professor, she agreed, but said it wasn't the proof she was "looking for", and so the 0 stayed. Maybe she's working for S&P now.
- white_devil 15y agoHow about the US being insolvent? Is that enough justification?