I am not sure how to digest this, but my immediate impression is that the Senate stonewalls budgets that the agencies suggest are required to maintain a bond rating, the Senate approves a budget that has commonly known to have illusory (fake) cost reductions, the agencies react by lowering the ratings.
Essentially, Congress was told what the reaction would be, the Senate and President called their bluff and Standard & Poor's reacted as they predicted by lowering the rating.
Reaction, blame Standard & Poor's, make them pay for having the audacity to keep their promises.
This is kind of like student blaming the professor for failing a project turned in in crayon.
Franken Calls for Oversight of Ratings Agencies
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