It happened. After quite incredible reports of miscalculations, it happened. The thing that is perversely both meaningless and full of meaning was announced on Friday evening New York time. The United States of America is now rated AA+ with negative outlook by Standard & Poor’s.
But, but, UNEXPECTEDLY!
After all, weren’t we told that through the heroic efforts of McCockless and Boner sure disaster was averted? That their historic “cuts” were bound to set us on the path to recovery and assure the world’s financial markets that we were serious about getting the DC spendaholics under control?
Of course, there were some of us “hobbits” out here who insisted that said financial markets really weren’t as worried about a not-going-to-happen-unless-Ogabe-decides-to-MAKE-it-happen “default” as they are about the insane spending trajectory that DC has set us spinning out of control along, but what do WE know compared to the sage, brilliant minds of McCockless, Boner and the entire editorial board of the Weakly Standard?
Apparently quite a bit.