Unconfirmed sources report that Moody’s, the beleaguered bond rating agency, has downgraded the Republican Party to ‘junk’. The down downgrade comes amidst tense negations between polarized members of the caucus which has paralyzed the party’s ability to function.
“This is a very bad sign for the GOP,” says Washington insider John Skidmore, of the consulting firm Skidmore International. “A downgrade of this magnitude signals a lack of confidence in the GOP to deliver an increase in the National Debt Ceiling, and will spell trouble for the party in the future. The GOP is ignoring the interests of their prime constituency, big business and their want of stability in the bond market.”
The downgrade illustrates the rift in the Republican Party between the pro-business party leadership and the anti-government anti-debt Tea Party faction. The interests of these factions seems irreconcilable as the Tea Party would welcome a default to starve government and the rest of party wants to maintain stability for foster a positive business environment.
“The GOP is broken. The freshmen GOP inmates of the house have taken over the asylum,” Concludes Skidmore.
Standard and Poor’s is expected to follow suit and downgrade the GOP as soon as tomorrow.