Hilary Rosen & Kellyanne Conway debate who gets credit for our credit downgrade -- a hell-no Tea Party or a big-spending president? Then, are Perry & Bachmann creating a religious test 60 years after Kennedy's Catholicism didn't?
It is terrible for our economy -- any economy -- when elites and leadership turn against the fundamental moral and economic tenets on which the economy is based. Such action can only lead to self-fulfilling pessimism.
What can the business community do to force S&P to take responsibility for tanking these firms and the jobs of the people who work for them? To keep S&P honest there needs to be a way to place a check on them.
The fact that the rating agency Standard & Poor's downgraded the U.S. credit rating from AAA to AA+ a few hours after the Treasury discovered a two trillion (!) dollar error in their calculations suggests that their "economic analysis" was just window dressing to a publicity stunt.