Friday, August 5, 2011

Thoughts on S&P's Downgrading of US Bonds: The GOP is Responsible

I have just heard that Standard & Poor has downgraded US bonds.

As far as I am concerned this fact can be entirely blamed on the Republicans in Congress who decided to politicize the debt ceiling, something that had never been done before.

Before 2011 whenever the debt approached the debt ceiling limit Congress simply raised in a proceedure as mundane as looking at both sides of the road before you cross.

But the GOP in Congress chose to politicize it and refuse to raise it unless they got what they wanted. From the very start experts, such as Geithner, warned that this was very dangerous.

This makes me angry. I have no doubt many innocent people within the good old USA are going to suffer because the stupidity of those who decided to use the debt ceiling to humiliate President Obama. That decision deserves to be labeled as nothing less than stupid and horrendously irresponsible.

Thank you John Boehner, Eric Candor, and Mitch McConnell for bringing this reverse to the USA.


  1. Very true words, indeed. It is a sad state of affairs, but now minions - ahem, ministers - of Armstrongism offshoots have a grand festive show about the minor downgrade from AAA to AA+...

    How anyone can claim to be a patriot and then laugh about being right in light of Herbie's copycat of US&BIP is beyond me.

    If they saw the big picture, this downgrade is only a temporary one as any economist would admit since noone is interested in bringing down the US economy.

  2. Wrong again friend. They (John Boehner, Eric Candor, and Mitch McConnell) want to control the debt and put forth a means to do so.

    In the end Obama loses. He is either an incomp or his is trying to destroy a country in which he has little love for. Read his book.