Raise and spend

Reason looks at the troubles of another debt ceiling increase - how are we going to play it back?
The credit rating groups are talking.
Earlier this week, Fitch put the U.S. government on notice: Yes, it wants the debt limit raised without a major fight, but it also warned that the fundamental strengths of the country’s creditworthiness “are being eroded by the large, albeit steadily declining, structural budget deficit and high and rising public debt.” Without a credible medium term deficit reduction plan, the agency says, a downgrade of the U.S. credit rating is likely by the end of this year.
Are we listening?