Saturday, August 6, 2011

Gibson blames the president for S&P's downgrade

In a stunningly partisan move that fails to take any responsibility for Tea Party brinkmanship, Congressman Gibson released a statement blaming President Obama and the Democrats for the downgrade in America's credit rating.

"This week, Congress passed and the President signed the Budget Control Act, which will cut between $2.1 trillion and $2.4 trillion over the next 10 years. This Act averted the immediate crisis of defaulting on roughly 40 percent of our federal debt obligations and influenced two of the three major credit rating agencies - Moody's and Fitch - to preserve our country's AAA credit rating. It was important to take action to avoid the chaos of the Obama Administration trying to sort through which bills to pay and which not to pay - leading to widespread panic across our country and the world. The consequences of this chaos would have been severe, resulting in a double-dip recession and possibly worse - our chances at an economic recovery wrecked. Without question, this bipartisan agreement fell short of what we needed to address our long-term debt crisis, but it was the best agreement that could be reached in a period of divided government. However, with S&P's downgrade of our credit rating to AA+, the Senate and White House must face this new reality and reassess their willingness to implement more comprehensive deficit reduction..."

Really, Congressman Gibson? President Obama was the one who created "chaos"? The fact that the GOP, fueled by the Tea Party, linked raising the debt limit with budget issues had nothing to do with it, right? It was the Democrats who refused to pass a clean bill to only raise the debt limit like it has been done every time before, right? It was Democrats who previously voted to raise the debt limit every time it came up without a peep who suddenly got religion and couldn't raise it again without taking a meat cleaver to social programs?

Reading statements like Congressman Gibson's makes one think they are in Superman's Bizarreo world -where everything is the opposite of reality on Earth.

And the Gibson gets away with it because his Tea Party supporters are low-information voters who believe what they want to believe.

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