S&P on the Balanced Budget Amendment

10 Aug

“In general, we think that fiscal rules like these just diminish the flexibility of the government to respond. Also, when Congress has a long track record of trying to bind itself with various rules…But when push comes to shove, they don’t bind very much. So even if you had a Balanced Budget Amendment, you’d have some questions about it’s credibility, and it would just reduce your flexibility in a crisis.” -John Chambers.  Take that Republicans!

John Chambers – S&P

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Posted by on August 10, 2011 in Debt


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