Monday, April 18, 2011

S.&P. Lowers Outlook for U.S., Sending Stocks Down - NYTimes.com


Common Sense observes that it is entirely clear that actions have consequences. In this case what turned out to be entirely pointless partisan political gamesmanship (you do remember what the real budget savings were for 2011, don't you) the consequence is clear. S&P votes no confidence in the US Government. Common Sense hopes, as we all should, that Congress will take note and act responsibly to both control spending and rationalize taxes to bring the Federal budget into balance in the very near future. Certainly extending the debt ceiling quickly and without a repeat of the recent foolishness is just plain common sense. Beyond that it makes a great deal of common sense to quickly agree to a 2012 budget without holding the nation's government and now economy hostage to unrelated social agendas.

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