If and when Standard & Poor's drops the rating on America's debt obligations, it's likely that the final sign-off will come from executive David Beers.  Mr. Beers directs S&P sovereign and international public finance ratings group.

On Thursday, S&P published a report laying out various scenarios about how the U.S. debt crisis could end.  The scenario that has the rating agency affirming the United States' AAA rating, the U.S. would have to not only raise the debt ceiling, but also agree on a long-term plan for reducing the nation's debt.

Mr. Beers is hardly apologetic for his ability to downgrade the nation's debt rating, ramifications of which include higher interest rates for debt service.  According to Beers, the rating system only works if "you call these things as you see them" - meaning that, if the U.S. can't stay up to the standards required by his department to be rated AAA, they most certainly will be downgraded.  But Beers himself admits that it's still too early to make a judgement.  Wonder how anxious he is to "push the button."   [WS Journal, 7/22/11]