April 19, 2011
MICHAEL WALSH: Uncle Sam’s Sinking Credit.
UPDATE: Skunked. “This country appears to have an off-balance-sheet, unrecorded debt burden of close to 500% of GDP! We are out-Greeking the Greeks, dear reader.”
ANOTHER UPDATE: Clive Crook: “If I were a ratings agency, by the way, US government bonds would already be less than AAA. The unresolved quarrel over the debt ceiling is reason enough all by itself for a lower rating.”