Monday, August 08, 2011

Blaming the TEA party for the downgrade

Earlier today I wrote about the Democrats' rush to blame anyone but themselves over the downgrading of our credit rating by S&P. President Obama also jumped into the blame game blaming the downgrade on the TEA party.

Tonight on "Special Report" Bill Kristol made an excellent point. Our credit rating was not downgraded while the debate was going on in Congress. It wasn't downgraded until after the debate was over and the President signed the bill raising the debt ceiling. In other words, contrary to President Obama, S&P did not lower our interest rate because of the debate in Congress--but because Congress failed to do anything about the spiraling debt!

Earlier today on Fox and Friends, one of the ones responsible for the downgrade was interviewed. He was asked if S&P would have downgraded the U.S. credit rating if the TEA party cut, cap and balance plan would have passed. He would not answer on camera, but off camera he conceded that the U.S. probably would not have been down-graded if cut, cap and balance would have passed.

And yet this President places all the blame on the TEA party! Disgusting.

No comments: