and just to be clear, re your little foot-stomping "Post the article in it's [sic - its] entirety." -- you are not the or even an arbiter, let alone lord, of how posting is or should be done here; that's my role, exclusively -- we will continue to post what we like as we like when and in relation to what we like whether you like it or not
Midas..McClintock said that S&P executive David T. Beers told congressmen the key to sustaining a top-notch rating was $4 trillion in deficit savings. He recalled asking Beers at a meeting, “Well, how about $3 trillion?” “Beers’ response was emphatic — ‘No,’” the congressman said. Thedebt compromise failed to meet S&P requirements.
First OFF..It doesn't matter what Rep. Tom McClintock (R-Calif.) said now, does it? he's simply attempting to cover for the mess he & his fellow republicans made .. .
Second and most important for you ...Why did the tea party turn down Obama/dems FOUR TRILLION debt deal? The Tea Party ..................TURNED DOWN a 4 TRILLION dollar deal! ......
ONE more thing I noticed about your 'post' .. My direct quote is all jumbled up ...not a space between the lines, whereas your quote FROM, an irresponsible congress critter is 'separated' PLUS you Bolded his words .......as IF he had anything at all to do with anything other than .. desperately attempting and failing to make excuses for the Tea Partys disastrous behavior which followed with very SERIOUS consequences ... nice Midas .....nice.
The Tea Partys INTENT was clear..AND the context of it all was posted here .....So WE, on this board, ALL READY knew what had 'gone on before and what & how The Tea Party responded, in each case .............We followed it blow by blow all the way to the downgrade
Here is some information I gathered up for you showing that what I posted was most certainly true & Accurate .. PLUS much more
The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year’s wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently.
July 2011: Obama offers Republicans a $4 trillion debt-reduction deal. GOP refuses, pushes debt-ceiling standoff until the last possible day, rattling international markets.
S&P’s definition of the AA rating: “An obligation rated ‘AA’ differs from the highest-rated obligations only to a small degree.The obligor’s capacity to meet its financial commitment on the obligation is very strong.”
– More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.
– Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government’s debt dynamics any time soon.
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