June 2, 2011 at 00:12:20
By paul craig roberts (about the author)
Although the financial press speculates about a downgrade of the US government's credit rating and default if political impasse prevents the debt ceiling from being raised in time, I doubt anyone really believes that the debt ceiling will not be raised. It is just all a part of the political theater of the next couple of months.
The Bush/Cheney regime brought democracy and accountable government to an end. If Obama doesn't finish the process, the next in line will.