S&P Downgrade

No suprise here.  S&P decided to downgrade America's credit rating from AAA status to AA+.  This makes sense because they are not measuring whether or not the debt deal got done by August 2nd like the Democrats were so worried about.  They are actually measuring the content of the deal.  If we had passed the Ryan plan or the Cut Cap and Balance plan then there was a chance that we could have kept our sterling credit rating.  But by passing the plan that the Democrats had gutted, that provided for no real meaningful spending cuts or structural reforms, S&P had to be honest in its assessment.  And in all honesty all this plan does is slow down the budgetary problems that got us in this mess in the first place.   As long as we continue to spend more then we need to, we will continue to dig ourselves deeper and deeper into a hole.  The farther we get, the more painful it will be to get us out.