The real problem.

Editor,

S&P justifies its downgrade on U.S. Treasuries because they lack confidence that the U.S. has the political will to "get its deficit under control." This is more right-wing blackmail and cleverly slips right-wing framing into the debate as fact.

But the fact is that American long-term debt is not the urgent problem it is cracked up to be.

The real problem is unemployment, and right-wing geniuses like S&P, who love monetary stimulus because it props up the stock and bond market houses of cards, militate vehemently against fiscal stimulus, which is exactly the right medicine for this economy if only they would allow it to be administered.

Re: "Credibility, Chutzpah And Debt" (8/8/2011)