Standard and Poor’s Downgrades US Credit Rating
From AAA to AA+. Regardless of what you think about S&P, this is a disgrace.
Maybe S&P are jumping the gun, maybe they’re making a political statement, but the fact is that the Tea Party right takes ALL the blame for this. S&P would not have even thought of taking such a step if the GOTP hadn’t turned this debt ceiling hike into a political nightmare.
This didn’t need to happen. During the George W. Bush presidency, Congress voted 7 times to raise the debt ceiling, with very little controversy. But with Obama in the White House, the Republican Congress held America’s credit rating hostage to push an extremist economic agenda.
And this is the result.
The Tea Party movement deserves a hearty congratulations tonight for forcing the first US credit downgrade in history. Well done.
