2012 candidates’ takes on the S&P credit rating downgrade
- Mitt romney “Standard & Poor’s rating downgrade is a deeply troubling indicator of our country’s decline under President Obama. His failed policies have led to high unemployment, skyrocketing deficits, and now, the unprecedented loss of our nation’s prized AAA credit rating. Today, President Obama promised that ‘things will get better.’ But it has become increasingly clear that the only way things will get better is with new leadership in the White House.”
- Jon Huntsman “Out-of-control spending and a lack of leadership in Washington have resulted in President Obama presiding over the first downgrade of the United States credit rating in our history. For far too long we have let reckless government spending go unchecked and the cancerous debt afflicting our nation has spread. We need new leadership in Washington committed to fiscal responsibility, a balanced budget, and job-friendly policies to get America working again.”
- Michele Bachmann “This President has destroyed the credit rating of the United States through his failed economic policies and his inability to control government spending by raising the debt ceiling. … President Obama is destroying the foundations of the U.S. economy one beam at a time. I call on the President to seek the immediate resignation of Treasury Secretary Timothy Geithner and to submit a plan with a list of cuts to balance the budget this year, turn our economy around and put Americans back to work.” source
» One note on the Bachmann one: You’ll note that if you read the full document, it specifically blames Republican policies — largely their unwillingness to raise revenue by raising taxes — for the downgrade. Yes, there is too much debt. Yes, it needs to be dealt with. But if the GOP can’t give an inch on taxes, then these words don’t hold water.