Quote:
Originally Posted by witchdoctor
It said the bi-partisan agreement reached this week to find $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would have no luck achieving more savings later on.
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There
was a deal with $4 trillion, plus tax increases, exactly as S & P outlined in their detail of why they downgraded the rating (and Moody's wanted that, too) That deal was made by Boehner and Obama, and nixed by the Tea Party in the House. Boehner gets to own that failure.
That said, S & P has an SEC problem, as it turns out they may have talked privately to some of their big investors before the downgrade.
Don't forget that S & P is owned by friends of the Bushes.
Of course, we don't have Dodd-Frank, as the Republicans have nixed any closer regulation of Wall Street. Too bad. We have agencies like S & P and Moody's, with their stellar history of rating derivatives, rating us. It will be fun to watch what happens now with Bank of America about to fail, too.
The Republican party owns this. Completely and without question.