Quote:
Originally Posted by Tinordi
Republicans took the economy hostage over a routine point of procedure and appear to have had every inclination to shoot. That's where the debt downgrade stems from.
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No, S&P made it very clear in their press releases that a $4 Trillion funding gap over 10 years needed to be closed to maintain their AAA rating. Meaning that all forms of proposed bills from the Democrats were offside of this too. Even if the same deal was struck mid-July there would be a downgrade none the less.
If you want to pin something on the tea party I would blame
some of the market turmoil right now on Republican brinksmanship, but necessarily the downgrade.