John Chambers of S&P noted that Cut Cap and Balance was the only proposal that, had it become law, would have avoided the HISTORIC! credit downgrade.
The Democrat-led Senate refused to vote on (and the President threatened to veto) CC&B after it passed the House in a bipartisan vote — a failure to compromise, in that CC&B agreed to raise the debt ceiling, as the Democrats were demanding, in exchange for taking serious measures to address debt and deficit, including a plan for a systemic fix, which Republicans were demanding.
This despite 20+ Democrats having campaigned on support for a balanced budget.
Canada balanced its budget. Some of the EU democratic socialist countries are scurrying to pass legislation that would force them to balance theirs.
But here in the US, the media and the Democrats — and many on the “pragmatic” right — want us to believe it was the TEA Party who caused the downgrade by insisting that we cut spending and work toward balancing the budget and reforming entitlement programs that are unsustainable.
Through the looking glass, people. And everywhere you look, the Mad Hatters are running things.
****
update: Question: why aren’t Boehner and the House Republicans getting out in front of all this by re-introducing CC&B, passing it again, and pressuring the Senate to vote on it — and so Obama to veto it?
Sadly, that’s a rhetorical question.
Nothing to see here. Move along.
/MBM
I won’t be able to see it (unless it’s über short), but what do you think the Vegas odds of the stock markets tanking even more than they have already are? He seems to have that effect.
They are all partying until September. Which did not stop me from calling my Rep and two Senators and asking for The Return of the CCB.
serr8 —
Yes, but why haven’t they demanded everyone return to Washington and “fix” this? Because I have a feeling that will be Obama’s “plan” today: direct Congress to “work together” in a “balanced way” to fix the TEA Party downgrade.
The Senate tabled it, they didn’t vote it down, so the House doesn’t have to do anything other than remind everyone that, between CC&B and the Ryan Plan, they’ve already done what needs to be done and the Senate has yet to get it’s head out of its ass.
The question ought to be, why isn’t that bull’s teet Mitch McConnell attaching CC&B and Ryan Plan to every bill that comes the Senate Floor? Why aren’t Paul or Rubio or De Mint, for that matter?
Now, if Boehner and co. wanted to do something useful, they’d hold the House in recess until Obama presented a budget.
Boehner never believed in it, and I’m sure he and McConnell were telling the President in private that it would never happen.
Boehner is vulnerable right now, trust me. He’d better find his stones, quick.
Ha, I think they don’t even recess the House these days, let alone the Senate, on account of fear of potential Obama appointments. Our system of government is gamed everywhichway from Sunday.
Doing nothing is a decision too.
A cowardly one, but still…
So, if this is a “tea party downgrade”…what’s the proposed fix? Less cuts and/or more spending and/or higher taxes? Yeah, let’s try that and see what happens to our credit rating.
Good lord…
Obama is going to say something about how he helped us avoid default. Bets?
Exactly, Seth. I posed that very question to sterlinggrey the other day, and he (of course) completely dodged it.
Seems we’re stuck with bureaucrats when we need revolutionaries.
No doubt, Jeff. This’ll be another MIM* speech.
MIM: Me, I, Myself
On my thesis his only hope is war (I jest here of course) I’m going with the Four Freedoms speech, prepping the battleground. Shared sacrifice! Freedom from Want!
It seems he’s trying to provoke the civil variety.
On my thesis his only hope is war
He doesn’t even that hope to cling to. We’ve already seen how he wages war.
“On my thesis his only hope is war (I jest here of course) “
He doesn’t need an actual war, when he can just paint himself a war hero.
RAISE TAXES NOW!
Obama doubles down. On his double down.
He doesn’t have a hope, really, I’m just goofing on the only plausible case his supporters can cite, namely, Roosevelt in the grip of the Nazi/Stalinist terrors abroad on the earth reelected despite presiding over a collapsing economy.
Boehner is vulnerable right now, trust me. He’d better find his stones, quick.
They’re out in the ether, orbiting the epicycles, buring copious amounts of phlogiston.
Why don’t we just this this pyromaniac a can of gas?
No visible means of support and you have not seen nothin’ yet! Everything’s stuck together. I don’t know what you expect staring into a TV set, fighting fire with fire?
Is that quotation from Chambers sourced to an anonymous fan on a Raiders message board? I don’t doubt that Chambers said it, and if he didn’t, he should have. But does anyone have a stronger source for it?
How about you go find video of the interview for us, Showy, so that you’re aren’t stuck with a crappy source? I’m busy.
Oh here, I took a second and found a different source.
Took me less time that it would to complain about the sourcing.
That just proves that S & P are tea-party affiliates, ideological allies of Michelle “crazy-eyes” Bachmann, and ought to be added to Homeland Security’s list of domestic terrorist organizations.
Oh here, I took a second and found a different source.
Took me less time that it would to complain about the sourcing.
Okay, I can see how the “anonymous Raiders fan” comment rankled you, but you have to admit, that’s an unusual link location for political commentary. Anyway, sorry if I offended. At any rate, I did look for the quote, and I didn’t find it, because I was looking for a quote in which Chambers explicitly referred to CCB by name as the only viable plan offered, rather than generally referring to $4T in cuts. Practically, the two comments are very similar, but a direct reference to CCB would have been nice, for rhetorical impact, in my view.
I can’t find a transcript. But I’ve found enough references to people citing the statement directly after the announcement that I’m satisfied, Showy.
I haven’t heard any righties blaming the downgrade on the Tea Party. Admittedly, I’ve been out of the loop for the last couple of weeks teaching school. Was it McCain? Does anyone listen to him anymore, outside of the MBM?
I’d just like to know so I can fire them up in writing. Not that it would do anything, I guess, save for allowing me to vent.
Actually, last I heard McCain stuck up for the Tea Party vis a vis culpability.
I can’t find a transcript. But I’ve found enough references to people citing the statement directly after the announcement that I’m satisfied, Showy.
Fair enough. And I didn’t mean to suggest that the onus is on you to provide me with links, I was just wondering whether anyone was aware of a link giving a direct quote from S&P citing CC&B as the only proposal made which would have averted downgrade. Link or not, it’s pretty transparently true to anyone who’s paying attention, but the quote would be a nice arrow to have in the quiver when trying to persuade people who don’t pay that close of attention, or who get their information from the Today show.
they-a culpa
That’s brilliant, BTW. Is it yours?
Guilty
Bob —
JPod of Commentary took at shot at them while pointing out that the left was a bit more to blame.
[…] I quote Jeff G. at Protein Wisdom: John Chambers of S&P noted (click over to PW to follow a link to the article) that Cut Cap […]