Editorial: S&P Downgrade - WSFA.com Montgomery Alabama news.

Editorial: S&P Downgrade

MONTGOMERY, AL (WSFA) -

Drastic times call for drastic measures and last week Standard & Poor's took the unprecedented step in lowering the rating on U.S. Government debt from AAA to AA+ - a first in our nation's history.

They issued many comments in their announcement but one put an explanation point on their decision and I quote "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 …"

Bottom line – our policy makers in Washington did not come up with a sound plan in timely fashion to once and for all attack our growing deficit and out of control spending.  The S&P called them on it, Wall-Street called them on it and we Americans are calling them on it.  Mom once told me the easiest and least painful way to remove a band-aid is quickly and all at once.  This step by step debt reduction plan by committee is prolonging the inevitable. 

We today urge the Alabama Congressional delegation to make the tough but correct decisions regarding our economy.   Stop spending money we don't have, end wasteful programs, and put a sound fiscal policy in place.  You do that and we can turn this negative into a positive. 

We appreciate your feedback.

Copyright 2011 WSFA 12 News. All rights reserved.

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