http://www.newsweek.com/exclusive-sp-was-minutes-marking-down-americas-debt-396
The Republicans caved and agreed to restore the government and extend the debt ceiling for a number of good reasons. The Democrats and the president held firm, voters were angry with them, and Wall Street was worried that if America defaulted on its debt the world economy would collapse, as it did in 2008.
But there was no stronger pressure on GOP House members to buckle than the knowledge that independent credit agencies like Standard & Poor’s and Fitch were poised to downgrade America’s credit score.Key to making such decisions is John Chambers, the global head of S&P’s sovereign ratings committee and a member of the team, led by colleague Nikola Swann, that marked down America’s debt rating in 2011, from AAA to AA+. This time, if the House Republicans had not blinked, Chambers noted that S&P would have been forced to cut the debt rating again.“If the government does discontinue debt-servicing, unless it is cured immediately, it goes into ‘selective default’,”said Chambers, citing S&P sources close to the heated talks in Washington. “Selective default” is the lowest of S&P’s 20 grades of untrustworthiness. How many countries are currently in selective default? Only Grenada.
some republicans said no biggie if we pass the deadline, some said good idea to let it happen and others continued lying to Americans and waited for Pres. to blink ans again underestimated his resolve. intelligence let's you know what you should and shouldn't do his told him that he if he ignored history 2011 it would repeat itself 2013-14-16. stupidity told them he did not have the intestinal fortitude to get so close and not jump to save America admirable as that is it green light future obstruction from emboldened right wingers such as more to come on ACA.
when you are devoid of morality and empathy for fellow Americans you cannot fathom one who does result underestimation and back to back to back losses it should also show you that there's no doubt about it you gotta get a new hat especially when all you pull out of it is failures.
A source close to S&P indicated that until the last minute Wednesday, when a deal was stitched up in the Senate to reopen the government and delay the debt ceiling until February, the committee in charge of assessing the U.S. sovereign debt rating, headed by credit analyst Marie Cavanaugh, was ready to convene a meeting to lower America’s rating. Already Fitch, a ratings-agency competitor of S&P, announced it was putting the U.S. on “credit rating watch negative,” citing a lack of “timely” action by Congress to pass a budget.Like a troubled teenager, America is repeatedly self-harming. “It is simply not a characteristic of the most highly rated sovereigns that you have to worry about them not paying their debts,” Chambers said, noting that no nation has ever defaulted for such a ridiculous reason – political games of mutually assured destruction. “It is unheard of in a cohesive civil society, making it all the more puzzling and lamentable that we have these shenanigans over spending that has already been approved by Congress.”
this is what rookie T-Per's have done to America while the party runs around blaming all the ails us as Pres. provoked, they are not as blind and stupid as the act we see them in i-max vision but they do it anyway in the open with impunity IMO because they are only playing to their base, the claims of reaching out and embracing which lasted about a week was just like immigration they never wanted to do it but they have to say it even though they were saying it wrong/right they no it's what they meant along with keeping their "VALUES", THE REAL BANE OF THERE EXISTENCE.
