the s&p downgrade was a purely political act taken by these two leaders of the confederacy of dunces known as standard & poor s. john chambers is the managing director of s&p and david bearce is ahead of the credit rating of s&p. s&p has been egregiously wrong before, and they are wrong again. the downgrade was not based on some sophisticated analysis of the numbers. indeed, s&p got the numbers wrong, very wrong. friday afternoon, the treasury pointed out to s&p that among the many miscalculations it has been caught making over the years, it had miscalculated our debt on friday by $2 trillion. after s&p accepted treasury s correction of its calculation, s&p went ahead with the downgrade, couching it entirely in political terms.
catholicism is a godless theology of hate. perry is yet to explain why he likes to hang with a fake preacher like hagee who thinks that hitler was doing god s work and that catholicism is a godless theology of hate. perry plans to admit he is running for president during his speech at the red state conference in charleston, south carolina this saturday, the same day that america s political attention was supposed to be focused on the aims strong poll in iowa. joining me now is howard fineman, editorial director for the huffington post and senior political analyst. is he running? i think so. is this official breaking news from howard fineman? no, this is howard fineman talking into a very plugged in senior republican. who said yeah. this is not mario cuomo. the engine s running, the plane is set to go to new hampshire
the political brinksmanship of recent months highlights what we see as america s governance and policy making than what we previously believed. the statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. john chambers, who lives in manhattan, and david bearce, who lives in london, have no better understanding of the politics and policies of the united states government than you do. in fact, they obviously have much less of an understanding than you do, because they actually think that within the forseeable future, the next few years, the united states government might actually default on its debt simply by failing to raise the debt ceiling when and if it s necessary. the statutory debt ceiling and
debt ceiling. he was just playing a political game with it, trying to highlight republican responsibility for the debt. this year we saw something we haven t seen before, some tea party members of congress claiming that they would do anything to prevent an increase in the debt ceiling, no matter what. it turned out, big surprise, a lot of them were lying, and they did, in fact, vote for an increase in the debt ceiling. in fact, last week s vote for a debt ceiling increase was the most bipartisan vote to increase the debt ceiling we have seen in a very, very long time. but still, the incompetent, politically illiterate john chambers and londoner david bearce offer nothing but the political worry that maybe congress won t raise the debt ceiling the next time it has to. they will be proven wrong every day for the rest of their lives.
because the united states government, including the congress as currently constituted, will never fail to pay its debts, and last week it proved it yet again. it proved it despite the utterly insane rhetoric of the michele bachmann s of the congress who john chambers and david bearce regard as having something very important to do with our governing outcomes, in fact, michele bachmann has never once mattered in american government. nor will she in the future. you have to know something about politics to know that, to know she s just one vote in the house of representatives and her vote never matters, and john chambers and david bearce, the stupidest political analyst in wreath in wall street s history, they don t know that. john chambers and david bearce ignorance is more dangerous and ambitious than the craziest of the tea parties.