Showdown!

The US needs to make significant government spending cuts or else risk losing its gold-plated credit rating that has made extensive borrowing so affordable, Moody’s Investor Service said late. The announcement was a sobering warning that the country’s burgeoning debt has weakened the country’s economic standing, and that US Treasury Bonds, traditionally a bullet-proof investment, could lose their sterling Aaa-rating if Washington cannot control its federal debt.

Christian Science Monitor
Then this:

President Barack Obama has agreed on a two-year extension of Bush-era tax cuts and a payroll tax holiday in a compromise plan in negotiations with Congress, an administration official said.

Is there gonna be a showdown? Someone here, besides the Tea Party is losing credibility. Whatever the case, the Tea Party just negotiated the biggest deficit in history.