We are in the midst of a bum’s rush - the quick eviction of a less than desirable in an unpleasantly abrupt fashion. The problem is we’re the bums. Our eviction from the political process is all based the word of a firm that helped fuel the housing bubble, trigger the financial collapse, and found itself indicted by the State of Connecticut for “unfair, deceptive, and illegal business practices” in 2008.
Last week, credit rating agency Standard and Poor’s threatened to downgrade the AAA credit rating of the United States of America by issuing a “negative” finding on the ‘long term credit outlook” for the country. The firm’s report said that Congress wasn’t working diligently enough to reduce the budget deficit. The nation had better fix things quick or, as S&P threatened, “there is at least a one-in-three likelihood that we could lower our long-term rating on the U.S. within two years [2013].” The mere threat of a reduced credit rating brought calls for quick and decisive action on proposals for deficit reduction.
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