In the making-lemonade-out-of-lemons category, the S&P downgrade of our credit rating and the subsequent massive sell-off of stocks might actually weaken the Republicans’ resolve to make no revenue concessions on the SuperCommittee. I know they’re going around pretending that this is the president’s fault, but business leaders know better. The Republicans spent all summer shrugging off all warnings that they shouldn’t play around with debt ceiling, telling us repeatedly that our credit rating was safe and even a default wouldn’t be that big of a deal. They were wrong. And I think a lot of people who went along with their kidnapping ransom scheme with a wink and a nod are now much less trustful of Republican assurances. The outcome of the Republicans’ hostage-taking plan has been a total disaster for the country, and I don’t see how the GOP can just continue down the same path. Obfuscation can only carry you so far. When the chickens come home to roost, you’ve got a problem.
About The Author
Martin Longman is the web editor of the Washington Monthly. He is also the founder of Booman Tribune and Progress Pond. Before joining the Monthly, Martin was a county coordinator for ACORN/Project Vote and a political consultant. He has a degree in philosophy from Western Michigan University.
September 10, 2005
October 4, 2006
April 17, 2006
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