[saganite]

Right after your bolded sentence is this:

“or on reaching an agreement on raising revenues”

As far as S&P is concerned either will do. Cut spending or increase taxes. You don’t seriously expect Dems to “see” the problem as excessive spending do you? There will be more and more calls for taxes.

[muawiyah]

S&P's ambition is neither ~ their interest is quite obvious ~ they want the interest rate paid on US securities to increase substantially ~ the new debt authorization sold at .25% which is a lot lower than the 5.25% the bondholders would have preferred to get.

Think of what S&P is up to as a manifestation of another stage in a broad based criminal conspiracy.