Standard and Poor’s Clarion Call

Early in the year 2011 the rating agency Standard and Poor’s alerted the world that America was on shaky ground. The agency reduced our credit rating from AAA to AA+. They did not nitpick nor beat around the bush. Instead, they articulated with no shame that our government was showing strong signs of being incapable of governing itself.

In my opinion, one of the strongest testimony to the assertion made by Standard and Poor’s happened yesterday when the U.S. Senate, also with no shame and for the first time in U.S. history, filibustered a *Presidential nomination for a cabinet member.

 United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative
Publication date: 05-Aug-2011 20:13:14 EST
Excerpt:
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.
Read more at:
http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563

As always,
BB

*The Republicans’ Ugly and Shameful Chuck Hagel Filibuster
by John Avlon Feb 15, 2013 4:45 AM EST
Read more at:
http://www.thedailybeast.com/articles/2013/02/15/the-republicans-ugly-and-shameful-chuck-hagel-filibuster.html