Republican Deficit Hawks Go Silent After S&P Upgrades America’s Credit Outlook

Remember back when every conservative ran to their mother hen media outlet, Fox News to attack President Obama and progressives when the United States’ credit rating was downgraded. Well, S & P (Standard and Poor’s) issued their latest outlook for America and stated they are upgrading America’s credit outlook from negative to stable. So where are the conservatives applauding this? Nowhere! You would think that being the patriotic politicians and people they are they would view this would be great news for our country.

According to the report by Reuters,

Standard & Poor’s on Monday revised its credit outlook on the United States government to stable from negative, citing Congress’s avoidance of the year-end 2012 “fiscal cliff” and the higher-than-expected tax receipts that followed.

Additionally, the ratings agency, the only one to have cut the United States from the coveted AAA status, said it does not expect the debate later in 2013 regarding a raising of the debt ceiling to result in “a sudden unplanned contraction in current spending – which could be disruptive – let along debt service.”

The latter part of the paragraph above regarding contraction of spending is particularly interesting, and may be why conservatives don’t want to talk about this news. S&P doesn’t want austerity spending contraction because it would have a negative effect of the economy which is steadily growing and in turn increasing tax revenue.

America’s deficit has been steadily declining, the treasury is reporting multiple months of surpluses this year already because the economy is substantially stronger, more people are working, and taxes on income above 400,000 dollars are up.

The bottom line is this disrupts the conservative narrative about out of control spending that Republicans used as the reason for the downgrade in the first place.

• Author
• Recent Posts

Ray

Latest posts by Ray (see all)

• Republican Deficit Hawks Go Silent After S&P Upgrades America’s Credit Outlook - Mon, Jun 10th, 2013
• Mississippi Governor Was On The Right Track Regarding America’s Education System - Wed, Jun 5th, 2013
• The Last 30 years Of Economic Growth Came Via Credit Card - Tue, Apr 9th, 2013