Not blackmail. Reality of the country issuing the world’s reserve currency: if the USA can’t pay debts on time, we’ve all got a HUGE problem. AAA rating is for never-late borrowers; if the US is late, AAA rating is not warranted, and everything riding on it gets downgraded too.
This is not a game.
Agreed.
But a AAA rating can be restored after a few years of significant spending cuts and restorative payment history.