Op-Ed: Jay Bookman in the AJC:Credit downgrade by S&P unfortunately is deserved

[XanaDUer]

Who forced “the prolonged controversy over raising the statutory debt ceiling” cited by S&P?

Who rejected “the comprehensive fiscal consolidation program,” with cuts to entitlements accompanied by higher revenues, producing a debt reduction of $4 trillion, proposed by President Obama? That would have produced twice the debt reduction promised in the deal that was finally accepted.

Who rejected the very notion of compromise, making “the differences between political parties … extraordinarily difficult to bridge,” with one side announcing that only total capitulation by the other side would be accepted?

Who embraced the policy of political brinksmanship that pushed the country so perilously close to default? Who publicly embraced the threat of default as “a hostage that’s worth ransoming,” announcing that the tactic would be used every time the debt-ceiling issue arises from now on?

http://blogs.ajc.com/jay-bookman-blog/2011/08/06/credit-downgrade-by-sp-unfortunately-is-deserved/?cxntfid=blogs_jay_bookman_blog