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Kerry Slams 'Tea Party Downgrade'
Senator John Kerry (D-MA), appearing on NBC's "Meet the Press" on Sunday, blamed Republicans and in particular Tea Party intransigence for the unprecedented S&P downgrade of U.S. credit from AAA to AA+.
"I believe this is without question the Tea Party downgrade," he said. "This is the Tea Party downgrade because a minority of people in the House of Representatives countered the will of even many of Republicans in the United States Senate who were prepared to do a bigger deal."
Kerry intimated that the "grand bargain" that President Obama initially negotiated with House Speaker John Boehner (R-OH), a package of larger spending cuts and revenue increases, was scuttled by a smaller group of Republicans who were unwilling to negotiate at any cost.
"There were some people in the Republican party - and Mitch McConnell even admitted this - who wanted to default," Kerry said. "He said there were people in his party who were willing to shoot the hostage. In the end they found that the hostage was worth ransoming."
MORE: Kerry Slams 'Tea Party Downgrade' | TPMDC
...Treasury Secretary Timothy F. Geithner said European governments need to get their fiscal house in order and provide a financial backstop for economies under pressure.
What Europe needs to do is to make sure that theres an unequivocal financial backstop, Geithner said, according to the transcript of an interview with NBC and CNBC television today. So there is no doubt in anyones mind that those countries have the ability and the will to meet their obligations. Thats essential to managing crises. ...
...Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P's decision to downgrade America's credit rating.
"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press ...
Links at site."Former Obama Budget Chief Orszag Says Official Economic Projections "Too Optimistic"
And so the comedy circle is complete yet again after none other than former White House budget chief Peter Orszag throws cold water in the face of the White House, the Treasury and everyone else who has so far been so stupid to continue to deflect blame for America's horrendous fiscal situation purely on S&P and its "colossal $2 trillion mistake." Because if the guy who up until a year ago personally came up with the White House's voodoo numbers is telling you they are full of shit (the numbers, not the White House), perhaps it does put the administration's claim that it is all S&P excel spreadsheet skills that are at fault, in a slightly different light.
Kerry Slams 'Tea Party Downgrade'
Senator John Kerry (D-MA), appearing on NBC's "Meet the Press" on Sunday, blamed Republicans and in particular Tea Party intransigence for the unprecedented S&P downgrade of U.S. credit from AAA to AA+.
"I believe this is without question the Tea Party downgrade," he said. "This is the Tea Party downgrade because a minority of people in the House of Representatives countered the will of even many of Republicans in the United States Senate who were prepared to do a bigger deal."
Kerry intimated that the "grand bargain" that President Obama initially negotiated with House Speaker John Boehner (R-OH), a package of larger spending cuts and revenue increases, was scuttled by a smaller group of Republicans who were unwilling to negotiate at any cost.
"There were some people in the Republican party - and Mitch McConnell even admitted this - who wanted to default," Kerry said. "He said there were people in his party who were willing to shoot the hostage. In the end they found that the hostage was worth ransoming."
MORE: Kerry Slams 'Tea Party Downgrade' | TPMDC
Kerry Slams 'Tea Party Downgrade'
Senator John Kerry (D-MA), appearing on NBC's "Meet the Press" on Sunday, blamed Republicans and in particular Tea Party intransigence for the unprecedented S&P downgrade of U.S. credit from AAA to AA+.
"I believe this is without question the Tea Party downgrade," he said. "This is the Tea Party downgrade because a minority of people in the House of Representatives countered the will of even many of Republicans in the United States Senate who were prepared to do a bigger deal."
Kerry intimated that the "grand bargain" that President Obama initially negotiated with House Speaker John Boehner (R-OH), a package of larger spending cuts and revenue increases, was scuttled by a smaller group of Republicans who were unwilling to negotiate at any cost.
"There were some people in the Republican party - and Mitch McConnell even admitted this - who wanted to default," Kerry said. "He said there were people in his party who were willing to shoot the hostage. In the end they found that the hostage was worth ransoming."
MORE: Kerry Slams 'Tea Party Downgrade' | TPMDC
No. Some of the TPers are disappointed they didn't get the ransom AND get to shoot the hostage.
This is going to hurt the economy and they're going to blame Obama.
No. Some of the TPers are disappointed they didn't get the ransom AND get to shoot the hostage.
This is going to hurt the economy and they're going to blame Obama.
Kerry Slams 'Tea Party Downgrade'
Senator John Kerry (D-MA), appearing on NBC's "Meet the Press" on Sunday, blamed Republicans and in particular Tea Party intransigence for the unprecedented S&P downgrade of U.S. credit from AAA to AA+.
"I believe this is without question the Tea Party downgrade," he said. "This is the Tea Party downgrade because a minority of people in the House of Representatives countered the will of even many of Republicans in the United States Senate who were prepared to do a bigger deal."
Kerry intimated that the "grand bargain" that President Obama initially negotiated with House Speaker John Boehner (R-OH), a package of larger spending cuts and revenue increases, was scuttled by a smaller group of Republicans who were unwilling to negotiate at any cost.
"There were some people in the Republican party - and Mitch McConnell even admitted this - who wanted to default," Kerry said. "He said there were people in his party who were willing to shoot the hostage. In the end they found that the hostage was worth ransoming."
MORE: Kerry Slams 'Tea Party Downgrade' | TPMDC
No. Some of the TPers are disappointed they didn't get the ransom AND get to shoot the hostage.
This is going to hurt the economy and they're going to blame Obama.
Obama is teflon, he can't be blamed.
TODDI (The Other Dude Did It)
Yes, Obama and all politicians will be blamed for this, as well they should.
Just like Bush was blamed for things that happened on his watch...it goes with the job.
But to have the first S&P downgrade in American history? tsk, tsk. I wouldn't want to be the president to have that as his legacy.
No. Some of the TPers are disappointed they didn't get the ransom AND get to shoot the hostage.
This is going to hurt the economy and they're going to blame Obama.
Obama is teflon, he can't be blamed.
TODDI (The Other Dude Did It)
Yes, Obama and all politicians will be blamed for this, as well they should.
Just like Bush was blamed for things that happened on his watch...it goes with the job.
But to have the first S&P downgrade in American history? tsk, tsk. I wouldn't want to be the president to have that as his legacy.
You seem gleeful.
No. Some of the TPers are disappointed they didn't get the ransom AND get to shoot the hostage.
This is going to hurt the economy and they're going to blame Obama.
So let me get this straight. The folks that suggested we learn to live within our means by NOT taking on more debt are to blame for a downgrade cause by too much debt. Got it.
And now Fannie and Freddie have fallen. Seriously,why haven't Barney Frank & Chris Dodd been arrested yet?
Obama is teflon, he can't be blamed.
TODDI (The Other Dude Did It)
Yes, Obama and all politicians will be blamed for this, as well they should.
Just like Bush was blamed for things that happened on his watch...it goes with the job.
But to have the first S&P downgrade in American history? tsk, tsk. I wouldn't want to be the president to have that as his legacy.
You seem gleeful.
He does, doesn't he.
No. Some of the TPers are disappointed they didn't get the ransom AND get to shoot the hostage.
This is going to hurt the economy and they're going to blame Obama.
Obama is teflon, he can't be blamed.
TODDI (The Other Dude Did It)
Yes, Obama and all politicians will be blamed for this, as well they should.
Just like Bush was blamed for things that happened on his watch...it goes with the job.
But to have the first S&P downgrade in American history? tsk, tsk. I wouldn't want to be the president to have that as his legacy.
You seem gleeful.
Obama is teflon, he can't be blamed.
TODDI (The Other Dude Did It)
Yes, Obama and all politicians will be blamed for this, as well they should.
Just like Bush was blamed for things that happened on his watch...it goes with the job.
But to have the first S&P downgrade in American history? tsk, tsk. I wouldn't want to be the president to have that as his legacy.
You seem gleeful.
He does, doesn't he.
You seem gleeful.
He does, doesn't he.
It must be weird, to go to the paper every day, hoping for bad news.
The depths of conservatives' hatred for Obama is a crazy thing. I've never been able to wrap my head around it.
By the way, Treasury rates are down today. The S&P downgrade is meaningless.
Pointing fingers at somebody else and casting blame instead of talking about what needs to be done to correct the situation. I remember something about change, well that part hasn't changed.
Kerry Slams 'Tea Party Downgrade'
Senator John Kerry (D-MA), appearing on NBC's "Meet the Press" on Sunday, blamed Republicans and in particular Tea Party intransigence for the unprecedented S&P downgrade of U.S. credit from AAA to AA+.
"I believe this is without question the Tea Party downgrade," he said. "This is the Tea Party downgrade because a minority of people in the House of Representatives countered the will of even many of Republicans in the United States Senate who were prepared to do a bigger deal."
Kerry intimated that the "grand bargain" that President Obama initially negotiated with House Speaker John Boehner (R-OH), a package of larger spending cuts and revenue increases, was scuttled by a smaller group of Republicans who were unwilling to negotiate at any cost.
"There were some people in the Republican party - and Mitch McConnell even admitted this - who wanted to default," Kerry said. "He said there were people in his party who were willing to shoot the hostage. In the end they found that the hostage was worth ransoming."
MORE: Kerry Slams 'Tea Party Downgrade' | TPMDC
No. Some of the TPers are disappointed they didn't get the ransom AND get to shoot the hostage.
This is going to hurt the economy and they're going to blame Obama.
Obama is teflon, he can't be blamed.
TODDI (The Other Dude Did It)
Yes, Obama and all politicians will be blamed for this, as well they should.
Just like Bush was blamed for things that happened on his watch...it goes with the job.
But to have the first S&P downgrade in American history? tsk, tsk. I wouldn't want to be the president to have that as his legacy.
