posted on Aug, 6 2011 @ 01:36 PM
We can thank the fanatic tea party and their republican lackeys for the first downgrade of American bonds in history.
Indeed there is no doubt their blackmail scheme to threaten the country with default ( by not raising the debt ceiling) if they didn’t get their way
is the direct reason for the downgrade. They essentially signaled that the American system is no longer tenable and unreliable.
Read the S&P explanation for the downgrade:
“More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political
institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook
to the rating on April 18, 2011.”
Obama tried to be conciliatory and maintain the integrity of the political structure but the republican tea party ruptured moderation with their
fanatic blackmail and threats to destabilize the American economy by threatening not to raise the debt ceiling at a time when the American economy is
in a precarious condition bordering on another depression as the above words indicates: time of ongoing fiscal and economic challenges
For those who think the tea party are good, quaint, and useful then this proves you are in grave error and that their fanaticism can and likely will
be the catalyst for the destruction of the American economic system if they are not soon reined in.
“House Republicans refused to compromise. House Republicans refused a grand bargain that liberals viewed as a massive step backwards for
progressives. House Republicans own this credit downgrade.”
edit on 6-8-2011 by inforeal because: typo