Lucia Brawley: I will fight for you in the upcoming campaign with everything I have, in order to prevent a Republican, or unthinkably, a Tea Party candidate from winning the presidency. But in order to fight for you again, I have to know you’re fighting for Bianca and me. Because if not you, then who?
Robert Reich: S&P’s intrusion into American politics is also ironic because, as I pointed out recently, much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown.
Robert Reich: Standard & Poor’s insists any deal must also contain a credible, bipartisan plan to reduce the nation’s long-term budget deficit by $4 trillion — something neither Harry Reid’s nor John Boehner’s plans do.
Brent Budowsky: The extreme hard-line attitude of many Republicans has significantly raised the prospects for a national default and rating agency downgrades that would sweep across the nation and many states, causing an economic cataclysm and public outrage unlike anything ever seen in the history of the republic.
Robert Reich: Monday Standard & Poor’s (hardly a beacon of reliability after the Crash of 2008, to be sure) downgraded America’s credit outlook. Expect more downgrades if the game of chicken continues.