Wonder what actual increase in interest rates would ensue from downgrades.
That’s a moot question.
There isn’t going to be any default NOR downgrade.
http://www.freerepublic.com/focus/f-news/2754833/posts
Greece is paying around 12% for its debt; we pay just under 2%. Worst case - our interest rate reaches that of Greece, and our $400 billion/year we spend on interest suddenly becomes $2.4 trillion - basically more than total Federal tax receipts. Then it really is game-over.