Have you seen, anywhere, in any media, or even heard reported or repeated on NPR, the following sentence? "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."
It's right there on Page 4 of the official Standard & Poors "Research Update" - the actual report on what they did and why - published on August 5th as the explanation for why they believe Congress - and even the Gang of Twelve - will be unable to actually deal with the US debt crisis.
Read more and tell us what you think here.
-Thom
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