Jobless rate falls to 7.8 %

[whell]

Originally Posted by finnbow

Because if sequestration indeed occurs, it will again indicate the incapability of Congress to deal with the nation's financial affairs. This concern was the cause of the first credit downgrade, thanks to your Tea Party friends.

No that certainly wasn't the main reason for the downgrade. The main reason that S&P downgraded the credit rating the first time was their concern that the deal last year to cut 2.1 Trillion in spending didn't go far enough. They were skeptical about the two sides able to cut additional spending. So, if sequestration does kick in, it will cut spending further. A further credit downgrade would then become less likely.