You may have heard that President Obama is trying to blame conservative leaders for the downgrade of our nation’s credit rating. In fact, his top campaign advisor, David Axelrod, recently went on national television and labeled it the “Tea Party downgrade.”
The recent S&P downgrade of our AAA bond rating was a sober, yet not unexpected, warning of our nation’s fiscal problems — not a cheap way to score political points for the next election.
As you probably know, U.S. Senator Jim DeMint (R-SC) opposed the debt limit agreement that was passed earlier this month and predicted that it would not prevent a credit downgrade. Senator DeMint said, “This bill doesn’t guarantee our AAA rating; it puts it at further risk as the world sees Washington as incapable of cutting wasteful spending.”
DeMint stood strong and demanded a true solution that would cut spending and balance the federal budget. The President, however, never even proposed a plan to cut spending and originally asked for what he called a “clean” debt limit bill with no spending cuts at all.
The only plan that would have preserved our AAA rating was the “Cut, Cap, and Balance” proposal, which passed the House but was blocked in the Senate.
If we’re going to preserve America’s economic standing in the world, we need immediate spending cuts, caps on future spending, and a constitutional amendment that forces Congress to balance the budget without raising taxes. That’s what our country needs and that’s what Jim DeMint is fighting for.
We expect many more misleading attacks on conservatives as the election season approaches. We won’t back down and plan to confront these false charges head-on.