From The Market Ticker;
Buy Gold! Pretty soon our money wont be fit to wipe our own @$$ with.
S&P says it must be FOUR TRILLION. Four is greater than two - by 100%.
Therefore, no matter what sort of crap the Democrats spew, until and unless they put a credible plan on the table that achieves four trillion in actual deficit reduction neither party is serious.
No, this is not a pass for the Republicans. They haven't put forward a credible plan either.
The fact of the matter is that both parties are well-aware that addressing the problem will cause an immediate contraction in GDP. If you get rid of deficit spending it's an immediate 12%+ hit. If you cut in half it's 6%.
Pick one - there's no resolution that actually fixes the problem and avoids this.
Either come up with a $4+ trillion plan which is still going to produce a monstrous amount of damage and will only extend the time before we blow up - not fix it - or shut up and go home.
The markets are done with the bullcrap - they know the Democrats and Republicans are lying and they're not going to believe either of you any more. Either cut it out Reid - and Boehner - or watch the markets crash and, once the downgrades come, you will risk getting too close to the critical point in the gravity well at which point disaster is inevitable.