Here is what Standard & Poors said initially was the primary cause for our credit rating to lower.......“the downgrade reflects our view that the effectiveness, stability, and predictability of American policy making and political institutions have weakened at a time of ongoing fiscal and economic challenges.”
Translation: they did not like our considering NOT raising our debt limit....they did not like that a major political party in the United States would have the audacity...the stupidity....the temerity.....to even question raising the debt limit....and even worse...use the potential of not raising the debt limit to blackmail the other party into entering into a bill that will, yes cut expenditures, but yes, slow growth as well (not to mention hurting the lower classes, the seniors, the poor; and leaving the uber-rich completely off the hook.
Yes, of course their were other factors...rising deficits, the inability to balance a budget since Clinton, etc. etc. But the fact remains that at its core....the very foundation is their opening statement....“the downgrade reflects our view that the effectiveness, stability, and predictability of American policy making and political institutions have weakened at a time of ongoing fiscal and economic challenges.”
Good job tea party, Speaker Boehner and the G.O.P.....once again you have shown how when it comes to economics you should sit at a card table, and leave us libs to sit at the large table. How many times have you shit your pants and expect a Dem to takeover the Oval and wipe your collective asses?
2 comments:
Even as a "Democrat" (oh, let's face it, George Carlin was right. The political parties are not actually in control of this country at all) I was against raising the debt ceiling (without actually knowing anything about it intellectually, it just sounds like a bad idea). But I do think Rush Limbaugh and his 1,000 imitators have done great harm to this country in their fanning the flames of division.
I once knew a guy who had retired from the office of Sen. Max Cleland, Georgia Democrat, because he said the "I hate you 24 hours a day" attitude of people like Bob Barr had soured him on a lifetime passion for politics. I think that has spread to Standard & Poor's.
Max Cleland is an absolute American hero. What they did to him in 2002 was an absolute shame...imagine questioning HIS patriotism...
Thanks for the comment, Art!
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