How to Cost American Taxpayers an Extra $100 Billion Per Year
Republicans — still pretending to be the party of “fiscal integrity” and “personal responsibility” — are just about to cost American taxpayers an additional $100 billion dollars per year. This is what will happen if America’s credit rating gets downgraded from its current AAA rating.
This downgrade has nothing to do with next week’s possible debt default. America’s credit rating could be downgraded any day now — any minute — because of the GOP’s constant stalling, one-upmanship and hostage-taking over the debt crisis.
This downgrade would wipe out the benefits of any possible deficit reduction plans that have been proposed so far. There would be a “permanent increase in borrowing costs,” which would jeopardize whatever degree of “recovery” we’re experiencing now. There could even be another recession.
Fuck You Very Much Republicans.
And President Obama: Hurry the fuck up and invoke the Fourteenth Amendment and do what you have to do. Raise the debt ceiling. Unilaterally. Now. If the United States defaults and/or gets downgraded, it will have happened on YOUR watch.
Step up to the plate.