"America's credit rating-intentionally sabotaged by Congressional Republicans

[Freeper]

kpete Donating Member (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Sat Aug-06-11 11:28 AM
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WOW! Yahoo News: "America's credit rating-intentionally sabotaged by Congressional Republicans"   Updated at 11:28 AM
   
Edited on Sat Aug-06-11 11:32 AM by kpete


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But that doesn't mean we should ignore S&P's Friday evening shot across the bow. In downgrading the U.S.'s credit rating, S&P points out what has long been obvious: Washington's inability to come to an agreement on how to close the large fiscal gaps that have emerged since the recession began is troubling. Recent events have sapped the agency's confidence that the government can and will do what is necessary to align revenues with spending commitments. And it's difficult to escape the conclusion that America's credit rating was intentionally sabotaged by Congressional Republicans.

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But Congressional Republicans deserve much more of the blame. For this calamity was entirely man-made -- even intentional. The contemporary Republican Party is fixated on taxes. It possesses an iron-clad belief that the existing tax rates should never go up, that loopholes shouldn't be closed unless they're offset by other tax reductions, that the fact that hedge fund managers pay lower tax rates than school teachers makes complete sense, that a reversion to the tax rates of the prosperous 1990's or 1980's would be unacceptable.

MORE:
http://finance.yahoo.com/blogs/daniel-gross/u-credit-ra...
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http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1677541

The spin has begun, not only does the blame fall at the feet of the GOP, but they MIHOPed it. 
If the dems win the media war and influence enough voters the USA is done for in 2013.
 

[Carl]

Let them try,the public wants government spending reigned in.

[Chris_]

Yahoo! is much like Huffington Post... they pass along articles written by others and claim it as their own.  I wouldn't be surprised if this was originally written by some KOSsack or another brain-dead liberal with a crusade against any kind of conservative agenda in Congress.

[DumbAss Tanker]

Yahoo! is much like Huffington Post... they pass along articles written by others and claim it as their own.  I wouldn't be surprised if this was originally written by some KOSsack or another brain-dead liberal with a crusade against any kind of conservative agenda in Congress.

Same with CNN's iReports and their slightly-more-credible Political Ticker.  Both are blog trash masquerading as real news.

[Chris_]

Daniel Gross is an American journalist and author, a former Senior Editor at Newsweek, and since September 2010 employed at Yahoo! Finance. From 2007 through August 2010, Gross was a senior editor at Newsweek, where he wrote the "Contrary Indicator" column.

Uh huh.