The point in the quote, however, is solid. "Cut, Cap & Balance" offered $4T in cuts which is what the ratings agencies asked for. It passed the House under Boehner with a bipartisan vote.
The White House mocked it as "duck, dodge and dismantle" and Reid, Mr. Dead-on-Arrival, wouldn't even allow a debate in the Senate.
Once again the Democrats refuse to accept responsibility for anything. Bad economy? Bush's fault. Failed stimulus? Earthquakes & oil prices. Downgrade? Tea Party's fault.
We should be screaming at the top of our lungs because Obama wanted a CLEAN debt ceiling increase with no offsets period. He wasn't concerned for a nanosecond about the credit rating. Neither was Geithner.
From Para-Ord.45, yesterday comes this quote, which needs to be stated often!
-S&P exec John Chambers,
“But $4 trillion would be a good down payment. We thought that..if policy makers could deliver the goods on that, then that would be a strong sign on our political scores and eventually on our projections on the fiscal side.”
S&P has already said it may slash the Triple-A rating if a debt ceiling deal is not accompanied by what it deems is a credible plan to cut the $14.3 trillion federal [debt] by $4 trillion.
S&P’s Chambers is saying the ratings agency wants to see at least a $4 trillion deal, one that would come with bipartisan support.
There was only ever one plan that did what S&P said was required — $4 trillion in cuts with bipartisan support. That’d be Cut, Cap, and Balance — a plan that cut $4 trillion and got bipartisan support in the House of Representatives.
As Democrats tonight, and some Republicans, lash out and blame the Tea Party for causing the United States to lose its credit rating, it is worth pointing out that only the Tea Party offered up a plan to avoid what happened.-
EXACTLY!