Uncle Sam Wants His AAA Rating

By GRAHAM BOWLEY
NYT

Is Wall Street listening to the Tea Party?

Two major credit ratings agencies warned Thursday that the United States might tarnish its triple-A credit rating if its national debt kept growing.

It was not the first time the agencies, Standard & Poor’s and Moody’s Investors Service, warned that the nation’s gilt-edged rating might fall into jeopardy.

But the two statements, made within hours of each other, were seized on by deficit hawks as further evidence that the government must reduce spending and debt to avert disaster. That is just what many Tea Party supporters insist.

But many economists say the reckoning, if it comes, is still years or even decades away.

(More here.)