Former Moody's top economist Mark Zandi says he's quite "excited" by the framework of a debt ceiling deal being discussed Sunday-- and believes the certainty of substantive deal will lift markets and head off a downgrade from the nation's AAA credit rating.
"I'm not in the rating agency... but listening to what they have to say, I think this would be sufficient... but this is substantive and should avoid a big downgrade," said Zandi, adding that some agencies "may go down a different path."
Source: Zandi: Deal should 'avoid' downgrade - POLITICO Live - POLITICO.com
Let me see if I get this right; double the deficit in 2 years. Run up more debt than in the history of the country. Promise to pay none of it back in 10 years, just slow future spending. Keep your rating, and you are good to go.
I get it. I really do.