Credibility, Chutzpah And Debt

Paul Krugman deconstructs the latest development in the hoopla of debt in this country. S & P, of course, was partly responsible for the mortgage crisis fiasco which triggered the economic downturn that has exacerbated debt problems, when it maintained high credit ratings for financial institutions that were on the brink of collapse in 2008. Krugman also points out that US debt problems could be solved rather easily if we were able to cut health care costs and raise revenues from the wealthy and corporations that was more in line with what other industrialized countries have done. Of course, the extremist right that has gummed up the political scene are hellbent on stopping that sort of sensible action.
http://www.nytimes.com/2011/08/08/opinion/credibility-chutzpah-and-debt.html?_r=1&ref=opinion