There are three distinct outcomes on the table for the U.S. credit rating, according to Standard and Poor's, and each scenario is tied directly to the actions of the leadership in the White House and Congress.
I'm sure there are plenty of unimaginable things in the Universe, though it's impossible to imagine what they are. But flying a plane into a building, the crash of a financial system and sex abuse by priests, we can safely say, aren't among them.
Not only do bond rating agencies rate countries and businesses, but they also rate universities, and a careful examination of their rating reports shows that their seemingly neutral analysis is often full of neoliberal beliefs.
The bull-bear debate rages on, but no two ways about it: the bull has firmly grabbed the Wall Street reins. The bears are still out there hollering fire, but the fact of life is no one is paying any attention to the dire warnings.
Let's hope that when Obama speaks Congress he outlines not only a bold program to provide health care for all Americans, but also a set of proposals to lift the middle class out of its currently dismal economic condition.