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Thursday, July 18, 2024

Axelrod: Tea Party to blame for credit downgrade


A top White House adviser is blaming the downgrade of the U.S. credit rating on tea party Republicans, whom he says were unwilling to compromise on how to reduce the federal debt.

Obama advisor David Axelrod

The adviser to President Barack Obama, David Axelrod, tells CBS’ “Face the Nation” on Sunday that the decision by the Standard & Poor‘s credit agency to downgrade the U.S. from AAA to AA+ for the first time was strongly influenced by weeks of standoff between Democrats and Republicans over the debt.

Axelrod calls the action, in his words, “a tea party downgrade” and says it’s clearly on the backs of lawmakers who were willing to see the country default to get their way.

Axelrod also criticized GOP presidential candidates for not speaking up in favor of compromise.

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23 thoughts on “Axelrod: Tea Party to blame for credit downgrade”

  1. You spend money we don’t have and then blame those who want to cut spending. Is this some new type of economics?

  2. First the “dual-Citizens” gained access to high positions of power in both the financial (US Treasury/Wall St.) and policy making (both domestic and foreign) positions of the US.
    In addition to these key places they also occupy the highest positions of decision making in courts of law across the nation.
    The Pentagon is also unbalanced in regards to these “dual-citizens.”

    Then they went to work dismantling the infrastructure of the US via bills and votes.
    This happened in addition to bribing (err I’m sorry, campaign contributions) congressmen/women and senators through powerful lobby groups such as AIPAC which is also full of “dual-citizens.”

    Now these same “dual-citizens” who engineered the Patriot Act (Chertoff) headed (and still head) “Homeland Security” (Chertoff, Lieberman, Janet Napolitano) ALL dual-citizens mind you, as well as the financial side of it (Greenspan, Bernanke, Axlerod, Summers, Geithner, Blankfein).

    Some will say this is anti-semitic but the top tier of the decision making processes which have harmed our country both domestically, financially and in matters concerning foreign policy have been instigated and perpetuated by these individuals who have “dual-citizenship” to a foreign nation.

    Examine it for yourselves and be honest about the results of those in positions of power who caused this mess. See how many of them actually hold “dual citizenship” with a foreign nation.

    Those who enabled this to happen are NOT those who will get us out of this mess, even though (oddly enough) they are the ones still calling the shots.

    America needs to remove those with “dual-citizenship” from power as they are not 100% committed to the well being of the US and it’s citizens.

    Attorneys don’t represent both sides in a court of law, yet we have “dual citizens” doing this very thing in regards to our nation and the future of the US populace in matters of finance and US policy. Is this not risky?

    It’s easy to throw labels and have knee-jerk reactions to those which bring these matters to light but all I see is a country full of “dual-citizens” making decisions for the majority of the populace who happen to only hold citizenship to the USA.
    I do not believe it is bigoted to point this out.
    It’s like saying there are worms in the apples.
    I do not hate worms, but I also don’t want my apples to be full of them either.

  3. The government collects enough in revenue and the problem is how they choose to spent it. Unfortunately they appear to have no concern about the long term consequences of such actions.

    The TP at least had a clue regarding the fiscal insanity. They are not going away after two years so just maybe some of the others in Congress should take a long look at the TP fiscal agenda. It isn’t prefect but it is what Congress doing and have done for decades any better? I think we’ve had that answer since 2008.

  4. While they may both be at fault, that doesn’t make them both equally at fault.

    Imagine two guys arguing over a $20 dinner bill. One says, “I’ll pay $17 of this bill, and not a penny more!”

    The other says, “NO! I won’t pay more than $2! The food was lousy, the service terrible, and I didn’t want it!”

    Both, of course, ate deeply of the same.

    Finally, the manager come along and threatens to make both of them wash dishes until the $20 is paid off, and they compromise, with one paying $17.50 and the other $2.50.

    Keep in mind both pigged out equally at the same trough. Now, would you say that compromise was fair?

    Sure, you could argue both were at fault for failing to agree on how to pay the bill, but there can be a great deal more fault on one side than the other.


    • This analogy doesn’t even apply to the debt situation concerning the major political parties. Both over spent while in the majority and “leading” Congress or in the Presidency. There hasn’t been a balanced budget in my lifetime. I’m 36!

      And don’t give me any crap about Clinton balancing the budget. That trick of borrowing from Social Security to cover the difference is part of why they want to reduce those benefits now.

      Imagine if your family ran up debt every year for four decades. Does it matter if it was your mother or your father that ran up that debt more than the other when both of them are racking up debt year after year after year?

      It’s been the worst in the last decade. It’s like each party has tried to outspend the other. First Junior Bush ran record deficits with Cheney running around claiming deficits don’t matter, and then amazingly, Obama outspent those fools.

      We are to the point we can’t service the interest on the debt without taking out more debt. We are paying one credit card with another, soon to be at higher interest rates. And what will happen in early 2013 when we’ve added another 2 trillion to the debt we already can’t pay?

      Will they make us wash China’s dishes for 50 years?

  5. I don’t know what’s funnier, that they would ask a Democrat campaign strategist that specializes in “packaging black candidates for white voters” economic questions, or that anyone would take his answer as anything but pure partisan politics.

    Isn’t Mr. Axelrod’s answer exactly what is wrong with our political system of “blame the other guy” when both major parties are clearly at fault?

    Isn’t the mainstream media simply pushing the fake divide between the parties when the reality is they are two sides to the same coin and you have no real choice at the polls?

  6. Sarah Palin is a mouthpiece for the Tea Party which represents nothing but hatred and dissension. Her rhetoric and violence-inciting imagery IS a form of terrorism and a prime example. She held Jared Lee Loughner’s hand while he murdered people with his misguided sensibilities. I was compelled to draw a visual commentary showing her handing him the gun on my artist’s blog at She’ll go to any lengths and keep spewing her insanity for that attention (and the money of course.)

  7. Wait, you’re saying that because ideologues in congress were actually willing to bankrupt the US economy, the international ratings got worse? That can’t be right.

    Whenever I threaten to file for bankruptcy, my credit rating goes up! (lie lie lie)

    Our country’s financial rating is directly tied to probability that the individual loans will be repaid. A AAA rating means it’s almost a certainty – “will we pay back our loans? You can count on it.” This obscene political drama, created solely due to the ultraright extremists, has thrown this certainty into doubt.

    Republicans dissatisfied with the gross failings of Bush the Lesser (and Obama as well) to properly manage deficits went the wrong direction in the political spectrum. The Democratic brand is no longer left-leaning… they were pulled to the right along with Republicans. Who was President when our responsible federal financial plan was put in place? Clinton. A Democrat. Remember? Slightly left of center. We had projected surpluses that were going to start paying down our national debt. Bush came along and added three enormous financial burdens on our country – tax cuts and two unjustified wars of aggression.

    I believe Republicans will lose droves of independent voters with this debacle. Democrats are likely going to have control of the White house and both houses after 2012, not because we like the woefully inadequate leadership of the party, but because we are truly afraid of the damage modern Republicans inflict on this country. Sen. Harry Reid said it best: “Will Republicans break away from the shrill voice of the Tea Party and return to the party of Ronald Reagan?” Reagan was a man you could strongly disagree with and still respect. When Tea Partiers hold up signs that say “Hands off my Medicare – NO to Socialized Health Care”, when half of them (42%) would prefer tax cuts to deficit reduction, you can only shake your head in wonder at their meager understanding of the issues they claim to care about so much.

    The Tea Party is an idiotic backlash to a legitimate problem. Their passion for a better fiscal approach is admirable. Their knowledge of the problem and potential solutions is laughable. The long-term damage they could do to this country’s stability and quality of life is incredible.

    ramble off.

  8. I absolutely believe that the Tea Party and the other members of the GOP wanted a total default to run Obama out of town. They could put Paul Ryan in the white house and get rid of the seniors and everyone on the brim of poverty. Bush ran up the biggest debt before he left office. Obama continued the stimulus to try and save the market and what was left of the jobs. The Tea Party is dancing in the streets at today’s failing of the DJA. It’s all the fault of Obama and I fear the voters are dumb enough to buy it. Okay let’s say Obama is defeated; who will the GOP run to replace him? Do you want a Christian Nation? Do you want more prisons to be built for those who break the sin laws? Do you want all homosexuals run out of town? Do you want Bachmann in the white house so her husband can redecorate the oval office? Do you want Willie Nelson to rewrite the Star Bangle Banner?

    • I want Willie Nelson to rewrite the star-spangled banner. Maybe this time it can be about love of country and liberty, instead of steadfastness in times of war. Maybe throw something in there about the value of the liberties of those you disagree with.

      Not so much the rest.

  9. What a joke. Did the tea party run up trillions in debt? That is the reason for the credit rating downgrade, and frankly I don’t have any idea what took so long.

    • No, the credit rating downgrade isn’t because of the huge debt, at least that’s not what S&P said. It’s because of the dangerous political brinksmanship initiated by the taxedeoughalready “patriots” in threatening to default on paying debt.

      • We are taxed enough already. Raising taxes will not solve this problem. If we weren’t spending twice our income this debate would never have taken place.

        Maybe if the 40 or so million able-bodied Americans that can’t find work were to get real jobs then we might be able to close the gap some with taxes. Those people would be paying income tax and other taxes when they went out and spent some of their earnings.

        No, this is about out of control federal spending, and while I have problems with many of the tea party’s policies, particularly their coziness with the Republican Establishment, their popsition on reducing federal spending isn’t one of them.

        But as it stands, this whole dog and pony show, and the subsequent agreement, was nothing but smoke and mirrors and won’t reduce federal spending one bit.

        Like I said, a joke…

  10. Axelrod is a sharp guy. Why he would come out with such a weak apologia for our national financial plight is beyond me. It makes him, the Democratic party, and his presidential lack of ‘success story’ look even worse. / : |

    Carl Nemo **==

  11. thomas, you give the Tea Party too much credit. They are basically simple minded members of the religious right who haven’t a clue what it is they are doing.

    They are doing me a favor by speaking up in trying to destroy President Obama. I read a lot of stories about the Tea Party and their plans but did not believe they ever had the power to actually destroy the White House.

    I was not an Obama supporter but I am a loyal American and the Tea Party has played every dirt trick in the book to knock our President off his game. Is this what politics has done to our elections? Is it moral to bring Jesus into the campaigns and shout down the Constitution? The GOP has gone too far when they organize lies and threats to get rid of Obama in 2012.

    Let the Tea Party drag America through the streets and under the bus. Let them turn our nation into one big smelly unwashed bunch of fools. Let them bring in as Protestant Pope and bow and scrape at this feet. Let them keep blacks and gay from voting. Let them gather up all the poverty people and put them in areas where they can be controlled by handouts. Let them remove women from their individual choices and force them into having unwanted babies.

    They will destroy America and stand firmly on their biblical laws that will eventually make America into a Christian nation. People like me will leave and hopefully we can find a place in Mexico where we can bring our corporations back to force.

    My allegiance is to the Constitution not to a bunch of fat sleazy hypocrites who demand we change our laws…..those same laws they cannot obey themselves.

    Pat Buchanan admitted this morning on Morning Joe that he is a Tea Party member. I can hardly wait until the Tea Party turns on Catholics including Pat himself. That’s the pattern folks. Evangelicals will tolerate no one who is not part of their group. Many will lie and say they follow this new agenda that breaks the First Amendment. But our Supreme Court will go along with the Evangelicals because they are half dead with age to begin with and don’t give a damn.

    I’m the one out of step here and nothing will ever make me say I believe in anything except those I respect.

  12. The Brown Shirt Terrorist Party is destroying America. Their leaders should be rounded up and thrown in Guantanamo under the Patriot Act!

    • Using force to silence political dissidents (like the Tea Party) is as un-American as the Patriot Act. People need to be educated, accurately informed, and dispassionate about the issues in order to form rational opinions.

    • Someone like you who wants to silence anyone who doesn’t agree with you would have felt right at home in Hitler’s Germany or Stalin’s Russia. Don’t like what they say? Just throw them in jail.

      What day of the month does your KGB pension check come in?

  13. He realizes time is just about up. Time to get someone to represent him for a speaking tour. Maybe title it “I was there for one and out.” Maybe get that book deal in place? One thing is becoming almost certain – both he and his boss will be unemployed in January of 2013.

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