Worrying about government debt is like worrying about the monster under the bed. The issue isn’t debt, it’s power.
Robert Reich: S&P’s intrusion into American politics is also ironic because, as I pointed out recently, much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown.
Lucia Brawley: Polls showed a majority of Americans wanted Obama to compromise more. He did. In the election, no one can say he is the unreasonable one.