Crisis Or Opportunity? Leaders Eye Up Paths Ahead After S&P Downgrade | Talking Points Memo

It’s a staple of business management books that the Chinese character for “crisis” also stands for “opportunity.” Despite the fact that this isn’t actually true, it has also filtered into the political discourse. The S&P downgrade presents a classic crisis/opportunity situation, namely: will political leaders use this moment to bridge their differences and agree on a credible plan that involves both spending cuts and additional revenues? Or will they simply use it as a chance to say, “I told you so!” and slag off the other side? So far the signs are mixed.The White House put out a statement by the President’s press secretary, Jay Carney, which balanced recriminations with the need to look ahead. On the finger-pointing front, he said the path to the final debt deal “took too long and was at times too divisive.”

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