Standard & Poor's uses CreditWatch to indicate a substantial likelihood of it taking a rating action within the next 90 days, or in response to events presenting significant uncertainty to the creditworthiness of an issuer. Today's CreditWatch placement signals our view that, owing to the dynamics of the political debate on the debt ceiling, there is at least a one-in-two likelihood that we could lower the long-term rating on the U.S. within the next 90 days. We have also placed our short-term rating on the U.S. on CreditWatch negative, reflecting our view that the current situation presents such significant uncertainty to the U.S.' creditworthiness....
Maybe you can explain how the problems caused by spending more than you have can be solved by raising the amount you can spend to a higher level, so you can spend even more that you don't have. The Clinton News Network doesn't do that.
Because you may be somewhat tainted with Democrat thinking, change the situation to a more personal level. Let's say you have $100 of income. But you consistently spend 150. Now you go to the creditor(people) and say, "I need to raise my debt ceiling, there isn't enough money to pay my debt." This may be hard for Democrat-tainted thinking, but it is ludicrous to say the creditor should go along with such a notion. Or, to do as the Democrats are doing, and call for a "compromise." Should your debt ceiling be raised to $125? And the people required to pay more for the privilege? Or should you be required to pay up before any further credit is allowed?
No debt has been been caused by insufficient taxation. NONE.