America has a AAA credit rating, but because Republicans suddenly decided to play chicken with the useless formality called the debt ceiling, something that was never supposed to happen, US debt is starting to look riskier and riskier. Republicans have kept up their anti-deficit campaign to such a high volume that the world is starting to believe them in a sick self-fulfilling prophecy. Problem? Republicans value tax cuts for the wealthy more than they do fixing the deficit, and they’re dangling our economic future over the fire in order to pursue their real agenda.
Analysts with Moody’s and Standard & Poor’s, the nation’s top two rating agencies, declined to be quoted on the record, indicating that even benign statements about timing and ratings decisions can rattle markets and startle investors. But earlier this month, both agencies placed the U.S. government on notice of a downgrade of at least one notch, if not more, to a AA rating. In a written statement, S&P analysts said they believed “there is an increasing risk of a substantial policy stalemate enduring beyond any near-term agreement to raise the debt ceiling.”
In other words, we aren’t even supposed to be having this conversation. A plan to solve our deficit problems, great. An ultimatum that we do it the Tea Party way or they willingly induce a recession, not so great.
America, do you still feel like these guys are looking out for you?