Joe Conason on the Danger of an American Downgrade

Joe Conason on the Danger of an American Downgrade
"Why China Is Laughing All the Way to the Bank" -- A downgrading of U.S. Treasury securities will mean enormous and completely unnecessary increases in our interest payments to the nation's largest creditor-and our most important competitor in the international arena.
http://www.truthdig.com/report/item/why_china_is_laughing_all_the_way_to_the_bank_20110729/