What Part of Financial Disaster Don’t They Understand?

Posted on July 22, 2011. Filed under: Uncategorized | Tags: , , , , , , , , , , , , |

For further information contact TurnerGPA at 202-466-2511

Failing to raise the debt ceiling—BAD.

Allowing the nation to go into default—BAD.

Reaching a compromise to stave off dire economic consequences—GOOD.

That was the simple, straight-forward, easy to comprehend –Economics 101—lesson delivered to 40 members of the House Republican caucus by the leading credit agency Standard & Poor’s yesterday.

The congressional newspaper The Hill and other media outlets reported that David Beers, an S&P executive, told the group of GOP lawmakers that “both a failure to raise the debt ceiling and a failure to tackle the long term fiscal challenges of the U.S. risk a downgrade of the U.S. AAA rating.” According to the various articles Beers warned that a default would spark a spike in interest rates that would “cascade” through the economy.

Reportedly some of the GOP lawmakers who attended the S&P remedial financial class appeared to have grasped the lesson and showed a greater willingness to compromise on raising the debt ceiling.

Unfortunately, too many House Republicans still don’t get it. As one GOP lawmaker opined following the S&P briefing—“failing to raise the debt ceiling before Aug. 2 won’t be catastrophic.”

Find that guy a dunce cap and corner to sit in.


Turner GPA is one of the premier, highly respected government and public affairs firms in the nation. Turner’s state-of-the-art advocacy has earned them respect and acclaim from the media, clients, policymakers and even their competitors! Turner advocates on behalf of cutting edge businesses, municipalities, and non-profits that wish to ensure their perspectives and needs are taken into account in Washington, in state capitols and in City Hall, as well as in the media. The firm creates and implements intensely focused and targeted advocacy campaigns designed to meet and exceed its client’s expectations and goals. For more information on Turner GPA, visit www.turnergpa.com or call 202-466-2511.

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