Do you really believe that brian, seriously? For 4+ years we have been racking up HUGE deficits. In the last six months the tea party gets a very limited amount of power in congress and with the repubs, there is finally some debate about the wisdom of these deficits. Cuts (reductions in increases) are agreed upon because of the tea party shifting the debate, and therefore, the downgrade is the fault of the tea party? The Tea Party is the first bloc to make a stride in this fashion in the last 10 years, and the downgrade is their fault?
That makes less than no sense.[/quote]
Yes, seriously, I do believe it. I’m not talking about whether America deserves the downgrade or not. I’m talking about the rationale at S&P for the downgrade.
I’m not even arguing whether the shift in politics because of the Tea Party is good or not.
S&P is rating France, Germany, the UK and other European countries higher than the USA despite entitlement issues that are worse than our own. Their tax rates are higher than our own. So entitlement and taxes are not the problem as far as S&P is concerned.
Those countries don’t have the political dysfunction we are currently experiencing.
If S&P thought that Tea Party politics were good for America, they would upgrade, not downgrade our bond ratings.[/quote]
Again false…doesn’t france get a new government every twenty years? Who knows what will happen there.
