Factual talking points on the economy (UPDATED)

[CabCurious]

45. here

http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563

* "the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics"

* "the effectiveness, stability, and predictability of American policymaking and political institutions have weakened"

* "we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. "

In other words, the GOP's brinksmanship regarding the debt ceiling and their refusal to allow the President to make good on our commitments is the cause for the first lowering of the US's credit rating in history.