A TEA party downgrade?
John Kerry and other top Democrats have been out calling last weeks downgrade by S&P a “TEA Party downgrade”. They have blamed the TEA Party for the political gridlock in Washington and for being too rigid in their demands. They seem to think that S&P would have been happy if they had just passed anything to ensure that the debt limit got raised. S&P however, said something different. They called for DEEPER spending cuts than were achieved in the “compromise bill” and a long-term approach to addressing entitlements, debt and overspending. These are all things that the Cut, Cap and Balance Act, which was passed by the House and supported by the TEA Party would have addressed. It would have cut $4 Trillion (the exact amount S&P asked for), capped federal spending at 18% (instead of the current 24.2%) and called for a balanced budget amendment to the Constitution.
So I ask you, how can this be the “TEA Party downgrade”?
