the threat of default have become political bargaining chips. that s what worries them. i have told viewers of this program that we will always raise the debt ceiling, we always have and always will. what john chambers and david bearce, the most incompetent analyzers of treasury debt in american history fail to understand is that the debt ceiling has always been a political bargaining chip. the political game of the debt ceiling just has never been played quite as loudly as it was played this year. almost half of the congress almost always votes against increasing the debt ceiling, the party out of power leaves raising the debt ceiling to the party in power. that s why senator barack obama voted against raising the debt ceiling when the republicans had a majority in the united states senate. it s not that senator obama was really opposed to raising the
lord help our fing scam. this has to be the stupidest place i have ever worked at. s&p is the stupidest place that everyone at s&p ath has ever worked at, and these two john chambers and david bearce have now taken their places as the worst political pundits in our midst. joining me now, former labor secretary under president clinton and professor of public policy at the university of california berkeley, robert reich, also the author of after shock which is also in paper a back. thank you for joining me tonight, robert. good evening, lawrence. the standard & poor s rating, as i read it, is nothing but a political adjudication made by people who know nothing about politics and also happen to have an absolutely horrific track record at doing what they are supposed to be doing for a living. what am i missing here?