Monday, August 08, 2011

The United States Credit Rating Downgraded for the first time in history

This is the TEA PARTY DOWNGRADE, and is the responsibility of those economic terrorists and the GOP Leaders who collaborated and coddled them.

Go Senator Kerry!

Sen. John Kerry(D-MA) on The 'Tea Party S&P Downgrade'

From We Are Respectable Negroes:

The Debits of Whiteness: Of the Tea Party GOP's Racism and the S & P's Credit Downgrade of the United States

from S&P:

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.

The Tea Party GOP got what they wanted. Their game of economic terrorism has resulted in one more step towards economic calamity for the American people. The austerity recession is here, if not already fully arrived.

The other shoe has fallen as well: although America's AAA credit rating made it through two world wars and a Great Depression intact, it could not survive the country's first black President. The Tea Party GOP can sit in the corner, smugly smiling now, as they prepare to carve up Barack Obama just a whee bit more as the 2012 election approaches.

Let us be frank and state the obvious...a reality that so many in the mainstream media are loathe to admit: The Tea Party GOP and its highwayman want to destroy President Obama because he is a Democrat. But, they despise him because he is Black.

The intransigence and obstructionism that the President experienced at every turn, especially as seen in what is almost always a routine decision to raise the debt ceiling limit, has been--pardon the pun--deeply colored by the bugaboo that is white racism.

My claim is not one that is lacking in nuance, where it is "only" white racial resentment and hostility that drives Right-wing, Tea Party GOP opposition to Barack Obama. In a moment of extreme political polarization ideology is made to trump all. The Right-wing rage machine has made compromise, normal politics, and reasonable discourse all but impossible. Race, as the third rail in American political and social life intersects all of those variables. Thus, White racism is a sweetener of sorts that amplifies an already high stakes game of political poker and brinkmanship.

Read the rest at the link above.

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