After credit downgrade, how will America attempt to restore credit rating?

A more sane appraisal of the situation <a href="http://www.economist.com/blogs/freeexchange/2011/08/sps-credit-rating-cut">from the Economist</a>.
 
We need to stop using stimulus (spending and tax cuts paid for with debt) to try to jumpstart the economy every time there is a recession or a negative turn in the business cycle. These negative events are natural and serve an important purpose: weed out companies and businesses that are weak. This thinning out of weaker hands allows the stronger hands to better survive and grow by more efficient allocation of resources.
 
We do what ever the people at SP want, that's the only way to please them. You just watch the benefits that special interests receive in the coming months!

Also, inflation, inflation, inflation...Its quickly becoming the ONLY way to pay the bills.
 
Hi. I don't understand this "economics" thing much. I'm only 10 years old. Maybe somebody can help me a little. (Dad doesn't know I post here sometimes.)

If Dad gives me a dollar, I can go to the store and get me a Snickers. That's great, but there's a little problem. I like to buy two Snickers cause I like to have one for later on. (I like to live the good life, kinda like a politician.)

So, here's what I been doing. Everytime I go get me a Snickers with the dollar Dad gives me, I also sneak out his credit card and get another one "for free".

How often do Dads actually look at the credit card statement, in detail? I mean, I been living the good life and nobody seems to be watching. So, I know Dad just pays the statement (or at least the minimum payment) without looking at the detail.

I read you guys posts here sometimes and I'm starting to feel like one of those sneaky (as Dad says) D.C. thugs.

But hey, they seem to be having all the fun. They can spend what they want, nobody seems to be watching, and they been getting away with it, like forever. They been living the good life, just like me. 'Sides, why should I care if Dad's credit gets hurt a little; long as I'm getting my Snickers?

Ha ha...I may become a politician some day.

How long do you think I can keep getting away with this?
 
BSAM, at some point, "Daddy" will figure out that "someone" has been using the credit card fraudulently, ie: without his permission. They will probably let "Daddy" default on the unauthorized charges to the credit card. But if unauthorized charges continue, they will eventually take the credit card away from "Daddy", and force him to divulge the names of the unauthorized users, who will then be charged with fraud and punished.

At some level, this is what I believe is going to happen to the United States. The USA will face a funding crisis from overseas, and China and other overseas creditors will use it to essentially 'order' massive change within the United States. Our leadership might wake up on Monday and be told, "shut down Wall Street and seize corrupt banker assets or else the flow of goods from China ceases". Obama would be faced with little choice.
 
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