We like how he’s trying to sound so infuriated. That’s cute.
John Kerry: ‘This is the Tea Party Downgrade’
Posted on August 7, 2011 at 11:31am by Madeleine Morgenstern
Sen. John Kerry (D-Mass.) continued his attack on the Tea Party on Sunday, calling Standard & Poor’s Friday downgrade of the U.S. credit rating “the Tea Party downgrade.”
Speaking on NBC’s “Meet the Press,” the former presidential candidate said the Tea Party was at fault after its members held up the negotiation process and refused to get on board with plans on the table.
“I believe this is without question the Tea Party downgrade,” Kerry said. “This is the Tea Party downgrade because a minority of people in the House of Representatives countered even the will of many Republicans in the United States Senate who were prepared to do a bigger deal, to do $4.7 trillion or $4 trillion, have a mix of reductions and reforms in social security, Medicare, Medicaid, but also recognize that we needed to do some revenue.”
The Peaparty Reality Deniers can just go on refusing to acknowledge the facts:
S&P bond rater: It’s the debt, stupid; Update: S&P official: Another downgrade will come if we don’t reduce long-term debt
The head of Standard & Poor’s sovereign ratings, David Beers told “Fox News Sunday” he did not expect “that much impact” when global markets open on Monday due to what he called a “mild deterioration” in the U.S. credit standing to AA-plus from top-tier AAA. …
He also said the downgrade announced on Friday was not due to the budget positions of any political party and that on any future agreement, “We think credibility would mean any agreement would command support from both political parties.”
So a lack of consensus was part of the problem for S&P. But consensus about what?
Beers called the U.S. Treasury Department’s criticism of the credit rating agency’s analysis a “complete misrepresentation.” Even with the debt limit agreement passed by Congress, he said, “the underlying debt burden of the U.S. is rising and will continue to rise over the next decade.”