On the S&P’s downgrade of the US’ credit rating

One of the bulletpoints from Standard and Poor’s report about downgrading the US credit rating from AAA to AA:

“We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.”

(Source)

In other words: the republican and tea-party’s demands for no new taxes is hurting the US credit rating.