 |
| Coverage you can count on..........NOT! |
Well, I guess we shouldn't be surprised anymore. Tonight, again, Pro8news completely left out any mention of Standard & Poor's downgrading of the United States' credit rating from AAA to AA+. It's the first time in the history of our nation that this rating has been lowered. According to CNN, The US had maintained its AAA rating since 1917. I guess that wasn't newsworth enough for ol' Tim Gutierrez.
From what I was seeing on FOX, MSNBC, CNN tonight, the finger pointing is already going on. All the GOP presidential candidates are blaming Obama. Senate Majority leader Harry Reid is blaming the GOP and the Tea Party for failing to include any revenue (tax hikes for the rich) in last week's debt ceiling deal. It's is noteworthy that a spokesman from Standard and Poors did mention the lack of any revenue as part of the problem with debt ceiling legislation. Also, the widening gulf between the various factions in Washington is believed to have convinced S&P that Washington still doesn't get how important it is to reach a "balanced"
approach. That means tax hikes for the rich are definitely needed.
This just in from our Republican Congressman:
ReplyDelete"Dear Friends and Neighbors in the 28th District,
Days ago, Americans and lawmakers came together on a shared sacrifice. In order to protect our economy and the future of the nation, we secured increasing the debt limit and reduced spending in the federal government. On Monday, Aug. 1, 2011, the U.S. House of Representatives voted on a bipartisan bill, the Budget Control Act that commits the United States to fulfill its obligations to pay our incurred debt and commit to budget discipline. I voted in support of this bipartisan debt deal, as a fiscal conservative [code for 'i represent the interests of the rich'] and in pursuit of the best interest for the 28th District of Texas and the nation. [. . .]
Economists and investors agree if the United States defaulted, the AAA credit rating would be downgraded and catastrophic consequences to financial markets would occur – this bill averts uncertainty. [. . .]
As always, it is my honor to represent you in Congress. If I can be of assistance to you, please do not hesitate to contact my offices throughout the 28th District of Texas or in Washington, D.C.
Sincerely,
[Republican] Congressman Henry Cuellar
Think again Henry. It was downgraded because of the Boehner bill passing without any revenue and, as you already mentioned, you voted for it. Obama wanted 1.2 Trillion in new revenue (taxes on the rich) as he was ready to give about 3 trillion in cuts. Boehner rejected this plan even although Obama was giving way tooo much as it was. Resutl: Boehner plan passes w/out revenue and US credit is downgraded. Thanks to the Tea Party, US is looking pretty stupid on the world stage.
ReplyDelete