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The Infamous S&P Credit Downgrade: Blame it on continued Republican policy?

August 08
20:35 2011
Joe Weisenthal notes an interesting line in the S&P’s full report detailing the infamous US credit downgrade:

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.

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