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Posts Tagged ‘Mary Miller of US Treasury’

S&P’s Lack of Confidence in Washington

Posted by Larry Doyle on April 18th, 2011 9:22 AM |

Standard & Poor’s decision this morning to place the credit rating of the United States on negative watch is long overdue. While the impact of S&P’s announcement is immediately reflected by a decline in the equity markets of approximately 1.5%-2.0%, the real target of this release is Washington D.C..

In layman’s terms the S&P release is voicing a lack of confidence in the credibility of both parties in Washington to deal with our financial house. We should not be surprised.

While politicians from both parties may talk a good game—especially recently—while they feed at the trough of the large monied interests emanating from Wall Street and other corporate entities, the American taxpayer has suffered from the incompetence and intransigence of Washington to deal with our LONGSTANDING fiscal issues and indebtedness. Playing shell games may fool some of the people all of the time but that gamesmanship is no way to manage a nation’s finances. (more…)






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