Ever wonder why the Tea Party freshmen were so cavalier about the threat of default. Perhaos because as freshmen, they were only a year removed from sitting on the couch and getting their economic world view from Fox News, thus it was hard for Boehner and company to let them in on the joke that Fox News is actually full of shit, and that a default is really a bad thing notwithstanding what Fox News says.
Nonetheless, the corporate media is now doing doing its best to hide the truth by re-writing the S & P downgrade as an indictment of President Obama when the report itself expresses deep concern at the willingness to use the debt ceiling and the threat of default as political leverage.
http://mediamatters.org/research/201108080047
Hannity: "I Would Not Vote To Raise The Debt Ceiling." During a panel discussion on the April 12 edition of his Fox News show, Sean Hannity said, "If I was in Congress, I would not vote to raise the debt ceiling."
Hannity: "I Just Don't Have The Great Fear" That Potential Default "Is Going To Be A Calamity." Hannity said, "You know, is it worse that we default now and get our budget balanced or that America keeps continually taking on trillion in debts? It's a very dangerous scenario, as evidenced by the S&P this week. And I just don't have the great fear that others do that this is going to be a calamity."
MacCallum: If U.S. Doesn't Raise Debt Ceiling, "Our Creditors Will Look Upon That Favorably." Anchor Martha MacCallum said during a discussion of the debt ceiling crisis, "I think that the more people learn about this issue, the more they're on the side of not raising the debt ceiling," adding: "My gut feeling and my, you know, background in studying the markets tell me that if we refuse to raise the debt ceiling, our creditors will look upon that favorably."
Napolitano Promotes Efforts To Dismiss Concerns About Default As "Bogus ... Fearmongering." Napolitano portrayed claims by Treasury Secretary Timothy Geithner "that if we don't raise the debt ceiling, we will default on our debt and that will crush the economy" as "bogus, it's fearmongering, and it's not true."