welch said of republicans, i hope majority leader cantor and those in congress seizing upon debt ceiling pressure as a leverage opportunity are listening to the markets today and thinking twice about their risky strategy. the markets have doubts about america s ability to get its fiscal house in order, and they re right. if mr. cantor persists in playing politics, with the debt limit, he will be held accountable for unleashing the financial hounds of hell. what does it mean the u.s. government has had its outlook dropped by a major ratings agency? cnbc s steve sedgwick is live to explain. good morning, steve. good morning, willie. at the moment, it doesn t mean an awful lot. a lot of people are saying, it s a shot across the bows, hopefully galvanizing opinion and getting the politicians working on a common number and enacting the plan. the problem is it s been seen really in europe, if you don t act and act swiftly and seem to be succeeding in your plan to get the debt down, the r
today s&p sent a wakeup call to those in washington asking congress to blindly increase the dedebt limit. for decades washington has blindably increased the dead limit while doing too little to stop spending money that it doesn t have, dangerous pattern that must end. on the dead sight, peter welsh said, quote, i hope majority leader cantor and those in congress seizing upon debt ceiling pressure as a leverage opportunity are listening to the markets today and thinking twice about the risky strategy. the markets have doubts about america s ability to get its fiscal house in order and they re right. if mr. cancer per sits in playing politics with the dead limit, he will be head accountable for unleashing the financial hounds of hell. give me a break. over the past decade that have allowed the debt ceiling to go up without making cuts.