Saturday, August 13, 2011

The Tea Party GOP Downgrade

Just in case anyone had any doubts, the blame for the S&P downgrade lies squarely in the GOP camp.  This is not a case of "both sides" crap, it's 100% Republican Prime Stupid that's to blame.
A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

[S]ome lawmakers blasted warnings by the Obama administration that a failure to raise the debt ceiling would unleash an economic catastrophe, including Republican presidential candidate Rep. Michele Bachmann (R-Minn.), who voted against the debt limit increase and said the nation would avoid default even without a deal.

“I want to state unequivocally for the world, as well as for the markets, as well as for the American people: I have no doubt that we will not lose the full faith and credit of the United States,” Bachmann said.

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