Quote:
Originally Posted by Schneed10
The S&P called out both parties in this release. They said that the US failed to do what the Democrats wanted and the Republicans blocked - raise tax revenue; and failed to do what the Republicans wanted and the Democrats blocked - hack away at entitlements.
We deserve this downgrade.
HUGE hit to Obama's re-election bid here. Regardless of who you like to point the finger at, the public by and large is going to view this as having happened on Obama's watch. He gets to go down as the president who presided over America's first downgrade in credit. He's as good as gone.
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Perception is everything. Not that I'm partisan, but I think businesses are trying to set the stage for a republican president. "We're unsure about Obamacare, we don't like the Presidents plan, etc etc etc." Make the public think that maybe if they elect a Republican president thats in favor of big business they'll start hiring again and then maybe they will in hopes of keeping someone in office who will give them breaks on taxes.
Still I don't care what happens. As much as I want basic liberties like gay marriage and the like it still doesn't mean much if a large part of the nation is either unemployed or underemployed. The economy has to be priority number 1, after that we can worry about everything else.
Hopefully this is history repeating itself and it'll be Carter-Regan all over again and we'll have a decade doing nothing but snorting cocaine and wearing ridiculous clothes.