Credit Downgrade

Well the air has again been let out of by 401k and more damage seems likely today.   The focus on getting a deal done prior to Aug. 2nd, left the door open to a credit downgrade based on our lack of commitment to actually cutting spending.   After watching the Sunday morning news programs, I'm amazed at the desire to blame the Tea Party for our recent fiscal problems.  The problem is clearly the government's overspending and I don't see the Tea Partiers as the source of that problem.  I'm not a big defender of 'W', but the Democrats certainly have more fingerprints on the current crisis than the oft blamed former President.  Still this has taken two parties to get us into this mess and if the two can't develop some kind of framework to get us out of it, a serious 3rd party movement seems likely and perhaps even necessary.

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