Tag Archives: S&P

Send Out the Clowns

From TALKING POINTS MEMO:

Now that Standard & Poors has confirmed that the chorus of default doubters in the GOP was part of what spooked them into downgrading the U.S. credit rating, Republicans will do all they can to pretend that they never questioned the risk of missing payment obligations, or allowing borrowing authority to lapse. But they sure did! Here’s a long, partial timeline of influential Republicans either vouchsafing default, or downplaying the consequences of passing the August 2 deadline without raising the debt limit.

Rep. Paul Ryan (R-WI), May 17, 2011: “You want to make sure that the bondholder has confidence that the government’s going to be able to pay them…. That’s what I’m hearing from most people, which is if a bondholder misses a payment for a day or two or three or four what is more important that you’re putting the government in a materially better position to be able to pay their bonds later on.”

 

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