@allenJo - It’s embarrassing when the United States undergoes a credit audit and gets downgraded. By international public sector accounting standards, I suppose that means that we are not as credit worthy as we once were.
What happens if China quits lending us money? I’ve already heard that they’ve diminished some of their purchases of our debt. I still think that the United States is a solid, good credit risk, but I don’t think getting downgraded – event to B+ -- is a good thing at all. It will impact the cost of our financial transactions down the road.