As the children in Congress try to decide whether or not to send the country into economic disaster by choosing not to pay our bills, Moody’s announced that if the national government defaults on their obligations, five states will have their ratings lowered as a result. Although this has resulted in some amusing circumstances (like watching Bob McDonnell, governor of Virginia, who had said that he saw “no advantage to raising the debt ceiling,” now has his hair on fire since learning that his state is on that list), the reality of the whole is rather distressing.
Maryland, where I have lived for the past thirty years, is another state on the list. Once our bond rating has been downgraded, interest on our debt raised, the payment of that debt more difficult, programs helping people cut, and on and on, the fingers will start pointing all directions. Despite the fact that some have said that regardless of any agreements they will not vote to raise the debt ceiling, they will also point their fingers to others.
So the question then becomes who to blame. On my way to a Bowie Baysox game recently I came across a prescient bumper sticker that references the previous governor of Maryland (the one we refer to as “the man with no sideburns”). I think I’m going to blame this person.