GOP Slams Obama After Downgrade

AP

Investors, business leaders, and politicians reacted Friday night to news that Standard & Poor’s had downgraded the United States’ creditworthiness for the first time in its history. GOP presidential hopefuls were eager to make campaign hay out of what they see as a failure of the Obama administration. And as the night wore on, other notable Republicans entered the fray via Twitter.

Here’s what Republican presidential candidates and other GOP notables had to say:

-Michele Bachmann

We were warned by all of the credit agencies that a failure to deal with our debt would lead to a downgrade in our credit rating, but instead he submitted a budget that had a $1.5 trillion deficit and then requested a $2.4 trillion blank check. 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.

-Mitt Romney

America’s creditworthiness just became the latest casualty in President Obama’s failed record of leadership on the economy. 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.

-Newt Gingrich via Twitter

The Obama disaster continues. Highest food stamp level and lowest credit rating in history in the same 24 hours.

-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.

-Ron Paul

The ratings agencies had been warning us for some time that it is imperative upon the U.S. government to get its fiscal house in order and tackle its debt and deficit problem by taking serious steps.

Unfortunately, the game in Washington has been one of partisan blaming and bipartisan out-of-control spending.

America has been dealing with this severe economic crisis for years because the Washington establishment failed to focus on the true issues at hand: a declining dollar and out-of-control spending. …

The American people realize that our nation can no longer afford to stay on this same path of reckless spending and follow the status quo of Washington. They will not tolerate any further ineffective stimulus schemes that do nothing to help our economy and actually do the opposite to the tune of trillions of dollars in money being spent and printed, and millions of people remaining unemployed and without much economic stability or security.

If Washington refuses to take heed, there is little cause for optimism.

Growing inflation, rising gasoline and food prices, and trillion-dollar budget deficits will all soon seem like minor issues if our nation does not immediately change our monetary and spending policies.

Read more: http://dailycaller.com/2011/08/05/gop-candidates-slam-obama-in-reaction-to-sp-downgrade/#ixzz1UGaQJa7J

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