The Daily Caller

The Daily Caller

George Will calls downgrade a ‘half-baked political analysis’

While many on the right are lambasting the Obama administration for its failure to maintain the country’s pristine AAA credit rating, one conservative commentator said Sunday that the Standard and Poor’s downgrade needn’t be taken seriously.

Washington Post columnist George Will was asked on ABC’s “This Week with Christiane Amanpour” how much the downgrade would “affect the basic economy here?” Will said it wouldn’t before trashing Standard & Poor’s track record. (RELATED: Standard & Poor’s ratings head: U.S. could be downgraded even further)

“You called this a shocker,” Will said. “Standard & Poor’s would have forfeited its good reputation if it had a good reputation to forfeit these days. It missed the entire mortgage-backed securities problem right under its nose.”

According to Will, the agency’s downgrade decision reflected its disapproval of America’s governing process more than anything else.

“If you read what they actually said, it’s a kind of half-baked political analysis criticizing the American system of government and how it works now,” Will said.

“Now, they’re entitled to their opinion on politics, but their opinion isn’t entitled to any particular respect. What did we learn from what they said that we didn’t know already? We know that from Athens in Greece to Sacramento in California, with stops in Rome, Lisbon, Madrid, Brussels, Dublin and Springfield, Ill., an entire system of governance is under attack and actually collapsing under the weight of its contradictions. We’ve learned nothing from Standard & Poor’s.”

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  • Anatamaji

    George Will just showed his gullibility stating on Charlie rose “Texas has a law that prevents people from buying a house with less than 20 per cent down”  …What Horse shit. Who fed him that bull, rick Perry????

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  • Rdminor

    I agree with Will. and I am certainly among the core group of conservative Republican voters. The S&P downgrade is more political then economic and not just for the reasons enunciated in this article. The business and banking world has been under pretty much constant attack from the left for the better part of the last 40+ years, and under this present administration these attacks have reached almost hysterical heights of bullying, bad mouthing, and regulation. S & P saw a chance to get a shot against them and took it despite the fact that the United States despite our current economic problems is still far and a way the safest place a person or nation could invest its’ money. The Western nations that have nearly bankrupted themselves as a result of their unbalanced social engineering are watching their financial construct collapse under the weight of too much spending and too little productivity, the Middle East is at the epicenter of social and political unrest, and South America is still mired in its’ seemingly endless post-Spanish settlement period. Africa, both Central and South, keeps picking dictators and thugs to govern them (when they have a government at all), and that leaves us with Russia and China

  • bigdave

    ITS TIME FOR ALL GOOD AMERICANS, IF ANY ARE LEFT, TO JOIN THE TEA-TERRORISTS!! YOU ARE EITHER A TEA BAG OR A SCUM BAG…NO IN-BETWEEN.

  • bigdave

    THIS SEMI-CONSERVATIVE IS JUST DEMORAT LITE. HE IS A TYPICAL LEFTSTREAM MEDIA-TYPE CONSERVATIVE. REAL CONSERVATIVES SHOULD BE TELLING THE TRUTH ABOUT DEMORATS!!! 1) ALL DEMORAT POLITICIANS ARE MILLIONAIRES(PELOSI, REID, BOXER, KERRY, SCHUMER, RANGELL…NEED WE GO ON?) AND THEY REALLY DO NOT CARE WHAT THE TAX RATE IS BECAUSE THEY INSULLATE THEMSELVES FROM IT!!! DO YOU?  2) THEY CONSTANTLY LIE ABOUT “ON  THE BACKS OF THE POOR”…THEY DON’T EVEN PAY TAXES FOR GOD’S SAKE!!!!  3)DEMORAT CONGRESSES HAVE SPENT US INTO BANKRUPTCY  4) ALL DEMORATS LIE…ABOUT EVERYTHING!! A REAL CONSERVATIVE IS ANN COULTER!!

    • http://profiles.yahoo.com/u/NMLA3IP3VOTEFE56MLBFBKO2GY The Kingfish

      Yeah, but Ann doesn’t type her columns in all caps.

  • Jim Buzzell

    Will got it wrong; S&P is about balance sheets, nothing more, nothng less; they down graded based on our debt to income ratio, which gives potential investors a choice when considering where they invest their money.  ‘The more risk the higher the interest rate charged, pure. simply, and a fact of life.  Obama got his debt limit increase, with congressional approval, they cannot dodge that bullet since it was their approved bill that went to the White House for signature.  Treasury immediate went out and borrowed more money, further deeping our debt to income ratio; really makes a lot of sense.  This only proves, again, there are no mental geniuses in Washington who voted for this legislation.

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  • http://profiles.yahoo.com/u/B6F63QRD25KIPZ5J5I2A3AVYL4 Red

    George, I think you tied your bow tie too tight and you’ve cut the blood off to your head.

  • http://profiles.yahoo.com/u/B6F63QRD25KIPZ5J5I2A3AVYL4 Red

    George, I think you tied your bow tie too tight and you’ve cut the blood off to your head.