Let's see if I have the facts correct. The tea party dug in its heels and insisted that Congress and the Obama administration do something sensible: spend less than revenues. Standard & Poor's warned that if Congress did not reduce spending, especially on entitlement programs, S&P would downgrade U.S. debt.
Congress failed to reduce spending in any meaningful way. The S&P downgraded U.S. debt. Correct so far?
Now, the Democrats are saying the downgrade is the tea party's fault. Sen. John Kerry even called it "the tea party downgrade." Sounds like something Al Gore would have said.
Richard G. Smurthwaite
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