Home Budget, Economy Breaking: Boehner Plan Wouldn’t Stop Downgrade of US Credit

Breaking: Boehner Plan Wouldn’t Stop Downgrade of US Credit

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Taegan Goddard’s Political Wire flags this CNN report:

House Speaker John Boehner claimed last night if President Obama simply signed the House legislation he has introduced, which would raise the debt ceiling in two stages, the “crisis” atmosphere over the nation’s credit rating would simply disappear.

However, CNN reports that Boehner’s debt plan would actually not meet the threshold of ratings agencies to avoid a downgrade of the naton’s debt while Sen. Harry Reid’s debt plan would would preserve the country’s AAA credit rating.

If the Boehner plan wouldn’t stop a downgrade of America’s credit & the hit to our economy that goes along with it, while Reid’s would preserve America’s pristine AAA credit rating, why is WashingtonPost.com calling them “similar plans”? The Beltway media might as well wave the white flag on covering the Tea Party-manufactured debt ceiling crisis. Just post the competing press releases with a note that says, “We give up. You try to figure out what’s true.”

  • … to pass his own plan. Sad:

    http://tpmdc.talkingpointsmemo

  • leftspace13

    … the false equivalence on CNN was thicker than usual — at this point their corporate masters must be torn: they don’t want default, but obama and dems can’t be made to look good.  hence push the pox on both houses ’til some possible last second road-to-serfdom entitlement slashing deal is rammed through.  that’s not how i see it playing out in reality, just what network management wants.  

    meanwhile, such imperatives translate easily to the lazy horserace talking heads.

    to wit, even the erin burnett piece highlighted demonstrates how she just can’t quit that equivalence…

    Whereas the Reid plan, even though a lot of the parts of that are seen by many as gimmicks, probably would pass that hurdle and you wouldn’t get that immediate downgrade.  So that’s actually an interesting distinction to watch.

    so, ya know, totally “pass that hurdle,” but “seen by many (!!!) as gimmicks.”