It seems like it was only last Congress that we were seeing headlines like these:
“A major credit agency is threatening to downgrade the U.S. debt rating unless Congress acts quickly to raise the debt ceiling. Fitch Ratings on Tuesday said it would revoke the country’s perfect credit score if there was another protracted struggle over raising the limit… Fitch said it expects the debt ceiling will be raised before default, but it said even a protracted struggle over the ceiling could lead to a downgrade.”
Oh wait, we were.
And why? Look no further than another Politico article highlighting how Republican skepticism over the debt ceiling led to our nation’s first credit downgrade:
“A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.”
Apparently, they haven’t learned their lesson.