Link to S&P's full statement on lowering USA rating. Keep for future reference.

[sinkingfeeling]

http://www.guardian.co.uk/business/2011/aug/06/sandp-debt-rating-downgrade-statement/print

"Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade."

[mohinoaklawnillinois]

1. Thanks for the link.

I've got saved on the computer.

[Dawson Leery]

2. Those tax cuts must expire.

[dtexdem]

3. So the so-called downgrade is due to Repuke policies that the Repukes insist upon continuing?

I wonder why the MSM isn't making a big deal of that. ;-)

[sinkingfeeling]

4. See: Mainstream Media Ignores S&P Attack on Republicans by Thom Hartmann

http://www.truth-out.org/mainstream-media-ignores-sp-attack-republicans/1312651460