The statement released Friday by Standard & Poor’s explaining its downgrade of the United States’ credit rating expressed greater concern about the inability of the American political system to handle troublesome economic realities than it did about those economic realities themselves. It read:
“The downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.”
Thus, what directly prompted the historic decision to downgrade the U.S. credit rating was worsening political dysfunction, not the “economic challenges” which Standard & Poor’s described as “ongoing.” The political, even geopolitical, repercussions of those challenges can only be expected to grow. . . . .
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True Discernment 
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