While continuing to cast doubt on the credibility of Standard & Poor’s, several Democrats on Sunday said there is an even greater culprit in the downgrade of the nation’s credit rating: the tea party.
“I believe this is, without question, the tea party downgrade,” Sen. John F. Kerry, Massachusetts Democrat, said on NBC’s “Meet the Press” on Sunday, a day that also saw mounting anxieties in world markets over the downgrade among myriad other economic woes worldwide. Some of the world’s top financial ministers issued a joint statement Sunday night committing themselves to preserve the stability of financial markets and their economies.
David Axelrod, a former senior adviser to President Obama, used the exact same phrase in dubbing the credit rating drop the “tea party downgrade,” as Democrats tried to position themselves as reasonable, pragmatic leaders and conservative Republicans as irresponsible ideologues who caused the downgrade by refusing to accept any new taxes.
That’s exactly the kind of blame game that led Standard & Poor’s, one of three key credit-ratings agencies, to strip the U.S. federal government of its AAA status Friday night and reducing it to AA+ for the first time in the nation’s history.
“Congress and the administration are jointly responsible for the conduct of fiscal policy. So, this is not really about either political party,” David Beers, the head of S&P’s government debt-rating unit, said during an appearance on “Fox News Sunday.”
Michelle Malkin » John Kerry and the ‘Tea Party Downgrade’
The “Tea Party downgrade” memo has been successfully circulated.
First up today is John Kerry. It’s some kind of hilarious to watch a big spending, pro bloated government liberal try to come across like a life-long hawk on cutting deficits, shrinking government and tackling the debt problem — if only his hands weren’t tied by those darned anti spending cuts Tea Partiers:
On NBC’s “Meet the Press” Sunday, the Massachusetts Democrat called Standard & Poor’s lowering of the nation’s credit rating from AAA to AA+ as “without question, tea party downgrade.”
“A minority of people in the House of Representative countered even the will of many Republicans in the United States Senate, who were prepared to do a bigger deal,” he said.
Kerry defended President Barack Obama’s repeated efforts to put a grand bargain deal on the table, which would have cut upwards of $4 trillion from the deficit over a decade, rather than the final debt ceiling deal that cuts between $2.1 to $2.4 trillion.