(lack of) Hard Choices by President Obama

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Europe has been doing the same thing:
http://www.spiegel.de/international/europe/0,1518,773549,00.html

In fact, even Asia has been doing it;
http://www.cnbc.com/id/43149935/Asia_Europe_Look_to_End_US_Credit_Ratings_Supremacy [Broken]

Everyone is looking for a way out.
We have standards and rules for good reason. What happens when everyone lowers their standards - whether in finance, education, or food safety?
 
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