Don't Get Yer Skivvies in a Twist. This is PRECISELY What You Voted For!
Hey, progressives who not only sat out the 2010 elections because you were MAAAD at President Obama but convinced OTHERS to sit out the election because you were MAAAAD at Obama, hear all that noise outside this morning? All the fluttering of feathers, the cackling and scratching at the dirt? The eggs dropping every which place?
Them's yer chickens comin' home to roost, honey chile! You saddled America with this teabagger congress. And now, you shall reap what you have sewn.
S&P has issued a press release with the official decision that the U.S. credit rating is now AA+, the first time in history that American government debt has not received its top rating of AAA. The release, via The Wall Street Journal, cites the recent Washington fight over raising the debt limit as the prime reason for its decision:
Of course, the right wing blames Obama:
House Speaker John Boehner, R-Ohio, who clashed with Obama repeatedly during the recent debt ceiling dispute, attributed the downgrade to government spending.
"Unfortunately," Boehner added, "decades of reckless spending cannot be reversed immediately, especially when the Democrats who run Washington remain unwilling to make the tough choices required to put America on solid ground."
You remember Boehner? The guy who boasted that he got "98% of what I wanted" after the debt ceiling nonsense? Remember how the stock market crashed the following day? Way to go, Boner.
You can be sure that every teabagger, every Republican who gets in front of a microphone today and tomorrow (and given the way the mainstream media operates, that's pretty much ALL we'll be hearing from) will blame Obama and runaway spending (that they ran up during the 8 years when they used the nation's credit card like drunk sailors). One has to almost admire their selective deafness, since Standard and Poors SPECIFICALLY SAID...
Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.Continued on the next page