Growing up isn’t easy. Actually, it’s very easy because every day you get a bit older whether you like it or not – it’s just not a lot of fun.
Congress, always the antonym of progress, received yesterday a stern lecture from a representative of Standard & Poors (aka Poor Standards) on just what happens when your credit rating is slashed and how it can be avoided. It appears that they successfully obtained adult supervision before doing something very stupid, which is to say doing nothing against the 2 August default deadline.
On the same day that the Greek debt crisis appears to have been ended this might actually be a cause for celebration. Of course, something like a big party is how everyone got into these messes in the first place, so it’ll be a quiet affair.