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Politics : President Barack Obama
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To: Neil H who wrote (99140)8/7/2011 5:12:02 PM
From: tejek  Read Replies (1) of 149317
 
That is one species of political failure, here is another: S&P made its downgrade not so much because of Washington's fiscal position but because "the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges". This follows on from the debt-ceiling talks, when Ms Bachmann and her fellow Republicans talked about a possible government default as if it were no more troubling than a trip to the spa. In short, this is the Tea Party's downgrade.

guardian.co.uk
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