Markets beware, the debt ceiling isn’t falling and neither are we
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(Another in a series of dearstudents columns by Borderzine executive editor David Smith-Soto)
Granted, the grocery store where I buy my nonfat Bulgarian yogurt is not your neighborhood Albertson’s, but I was surprised when I found my access to the two-ounce jar of sliced pimentos blocked by a little old lady who had cornered the store manager with her concerns over the downgrading of the credit rating of the United States of America. The diced pimentos were reachable, but I was ordered to buy sliced pimentos and my own rating would be severely downgraded if I came home with those tantalizingly reachable diced ones. “It’s those Tea Party people,” she informed the manager, “They’re responsible for the divided government that landed us in this mess.” Well, she could have been quoting Standard and Poor’s, the bond-rating agency that had just kicked Uncle Sam down one notch from AAA to AA+, for the first time in recorded history. “Our nest egg…”