There's a paragraph in their reasoning saying basically that S&P doesn't feel comfortable with a high rating for US Government Debt because of their concern for the politics of the Debt Ceiling debate we just went thru.
If I can take as a given my thinking that Wall St is moving away from the GOP because of the Tea Party nutbags, then it makes a lot of sense that the downgrade is actually S&P sending a signal to the GOP that they need to get their shit together.
If your interest burden goes up because of the S&P downgrade, and S&P says it's because they don't trust the political process, and it's the Tea Baggers making the political problems, then who ya gonna blame?
It's possible the Tea Baggers kinda fucked up in reverse tho'. Imagine how popular they'll get when somebody figures out how to spin it back and say the Tea Party was absolutely right about everything because look - we scared Wall St half outa their socks.
The grand shift in power continues and it just gets weirder as we go.
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