“It is clear from Standard & Poor’s statement downgrading the federal government’s credit rating that it places the blame squarely on Republican actions and policies. Two of S&P’s biggest concerns about whether the United States will pay off its debt are whether Republicans will be so insane as to refuse to lift the debt ceiling, a possibility Republicans intentionally stoked fears of, and whether the United States will raise much-needed tax revenue. Specifically, S&P changed its baseline assumption that the Bush tax cuts would expire on schedule in 2012 because Republicans are so insistent that they must be renewed. “We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues,” wrote S&P. That adds $4 trillion over ten years to the projected deficits…”.* So did 2012 Republican Vice Presidential candidate Paul Ryan try to blame President Obama in a recent speech? The Young Turks host Cenk Uygur breaks it down.
*Read more here from Ben Adler in The Nation: http://www.thenation.com/blog/162612/gop-causes-sp-downgrade-republican-candidates-blame-obama
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