S & P DOWNGRADES US RATING, REPUBLICANS SEE A WAKE UP CALL DEMS BLAME S & P
This is a devastating blow to our Nation and a strong and factual criticism of the lack of fiscal responsibility and inaction by those in Washington in addressing the debt and deficit nightmare. One of the most telling stories of this downgrade though comes from the response by the two parties after the announcement.
Republicans called the downgrade a,"wake up call," and stated that the move by S & P shows that it is time to get very serious about cutting spending in order to decrease and eliminate both deficits and debt. In fact some in the GOP stated that 10and 12 year plans to reduce deficits are not producing results quick enough to tackle the problem and more immediate measures to reduce spending are needed.
The Obama administration specifically The White House and Treasury Department had a different take on the announcement. To them it was not a wake up call or a sign that the lack of fiscal responsibility in Washington is starting to worry creditors, country's and financial entites around the world. To Democrats S& P was the problem and not those responsible for the debt and deficits.
In fact a treasury spokes person stated that S & P, "underestimates," the ability of Americas leaders to solve the problem. I have news for the Obama administration, Americas leaders ARE the problem and S & P has good reason to doubt the ability of leaders to realistically and quickly attack debt and deficits. S & P obviously doesn't trust the ability of DC to tackle the problem in the same respect as most of the American people do not trust DC to solve our finacial crisis.
The liberal media band wagon is joining the administration in blaming S & P as many of the left wing media types are calling the rating a mistake by Standard and Poors and blaming the change in rating as a plan by the company to help the Ryan budget plan along as opposed to the Obama plan. So the liberal media spin is running in lock step with the Obama lie.
The rating was lowered because the outlook for our country is dim with the current debt and deficit problem as it is. Ryan's plan is good at addressing the problem in the longer term but immediate spending cuts in the trillions are necessary to place the US on a path to fiscal responsibility and to restore our good standing in financial circles both here and around the world.