Timeline of the downgrade - corporate news promotes corporate funded "grassroots" movement

[underpants]

this movement spews any talking point the corporate news operation repeats more than once
they are endlessly promoted on all of corporate news
the racism is palpable

the country nears its debt ceiling
unlike the 60+ times the debt ceiling has been raised in a one-line piece of legislation the "fight" is extended to the last minute
the grassroots movement that has created by corporations scares the life out of the establishment of one political party
this political party fights internally until they relent to the fake grassroots movement and ignore half of the income statement
the leaders of this party say that they "got 98% of what I wanted" and emerge to cameras with a thumbsup

a ratings agency who were vital in creating the mess to start with is exposed as being bad at math but refuses to change the calculation

the gold standard country is downgraded because of the fake grassroots movement

[ewagner]

1. true.....n/t

[emulatorloo]

2. Yep, you got it. Rec n/t

[Champion Jack]

3. K & R

[NightWatcher]

4. Sick, isn't it?

[still_one]

5. S&P is wrong, and when interest rates for treasuries do not go up, that will be the most telling

factor just what the people and investors think about their analysis

I have no doubt the media will be pushing this to the hilt. Keep in mind that the MSM and their insights have been about as accurate as the financial analysts. About 85% wrong most of the time

[underpants]

6. I added a line about S&P

creating the mess
exposed at being bad at math
refuses to change the downgrade

[Ruby the Liberal]

7. "Bad at math"? Truly, we need to kill this meme.

Forgetting the corruption with mortgages, and speaking specific to this calculation discrepancy - The $2T "math error" is the difference between the WH/Boehner bill counting the expiration of the Bush tax cuts in 2012 and S&P removing it from their analysis.

WH: "trust us, this time, we really will let them expire"

S&P: "yeah? well, we'll believe it when we see it; and this congress doesn't give us confidence enough to include that assumption today"

S&P statement: "Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act."

The GOP owns this one.