Pages

Tuesday, August 9, 2011

Standard and Poor downgrades U.S. credit rating

A recent press release from Standard and Poor's , gave the following explanation behind it's decision to lower the long-term covereing credit rating of the United States:

The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year’s wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.


The emphasis is, of course, mine.

So now, thanks to that bunch of idiotic inbred knuckledragging wifebeating bottomfeeding methsmoking corporate Jesus freaks in the House, everything is going to cost more, for everyone in the entire country. These dipshits are so anti-tax that they've gone ahead and forced a spike in the cost of EVERYTHING on EVERYONE. Buying a car? Get ready to pay MORE for it. In the Market for a house? You will pay MORE. Have credit cards? MORE. Why is it that wealth never seems to fucking trickle down, but debt sure as hell always does?

So thanks, Republicans. Thanks, Teaparty. Thanks, Conservatives. Thanks a fucking lot.

Good job assholes.