Well it appears that the US debt crisis has been averted and the necessary changes will soon be made law. Despite feeling that they have just dodged a bullet, the US is not out of the woods yet.

Bond rating agencies such as Moody's and Standard and Poor's have stated that they may downgrade the countries debt rating, regardless of the borrowing limit, unless other fiscal changes are made. This comes as no surprise given the remote chances of the US suddenly earning a surplus and beginning to pay off its debts. Considering the pain and agony of changing the debt limit, any other financial changes will be slow in coming and another crisis is likely.

Everything I know about American politics I've learned from the Internet.