September 04, 2011 at 10:04 AM

The Star Democrat's letters to the editor on August 19 included one from a correspondent from the rabbit hole with  the phrase: "Here are the facts, folks..."   (Which should automatically bring up "Google" in your browser.) She then proceeded to hold forth on the recent downgrade of U.S. credit.

The downgrade was announced in Standard & Poor's published report, in which they expressed confidence in the ability of the American economy to support repayment, but specifically said:

"Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place.We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues..." 

The letter writer claims the "real reason" was revealed during (how conveeenient!) an aside in a commercial break. It must have been broadcast at a frequency that only hard core Republican economic dead-enders can hear. 

I'll stick with S&P's version that they themselves published. We don't need to go to the rabbit hole to know that the Republican party brought us our first credit downgrade in history. It was in all the papers.

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