The Republicans cost the US government the S&P credit rating downgrade for the first time ever. Its a sad state of affairs when a man made crisis gets taken seriously..now the whole nation has to pay for the GOP and the Tea Party's drastic ignorance to working with the President.
But Congressional Republicans deserve much more of the blame. For this calamity was entirely man-made -- even intentional. The contemporary Republican Party is fixated on taxes. It possesses an iron-clad belief that the existing tax rates should never go up, that loopholes shouldn't be closed unless they're offset by other tax reductions, that the fact that hedge fund managers pay lower tax rates than school teachers makes complete sense, that a reversion to the tax rates of the prosperous 1990's or 1980's would be unacceptable.Is the U.S. Credit Rating a Victim of GOP Sabotage? | Daniel Gross - Yahoo! Finance
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