Monday, April 18, 2011

S&P VS GOP: Nothing makes sense anymore.

It would appear as though we're in a positive feedback loop.

(CNN) -- Standard & Poor's lowered its outlook for the nation's long-term debt Monday, saying the political grousing over the deficit could put more pressure on the still shaky economic recovery.
 (FOX News)South Carolina Republican Sen. Jim DeMint warns he will filibuster vote on debt ceiling unless lawmakers add a balanced-budget amendment to the Constitution, adding a new twist in deficit battle.

 Grab your asses.


**EDIT In another twist, checking the  10 Year T-note (^TNX), the interest rate was DOWN today about 1.15% when I checked.  WTF?!?!?

**EDIT EDIT It appears that Krugman beat me to this by hours:

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