“We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process."
issued by Standard and Poor's after they downgraded the United States' credit rating for the first time in the nation's history, to the person that seems most in touch with the reason mentioned by Standard and Poor's.
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“This president has destroyed the credit rating of the United States through his failed economic policies and his inability to control government spending by raising the debt ceiling... President Obama is destroying the foundations of the U.S. economy one beam at a time." ~ Republican presidential candidate Michele Bachmann
“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." ~ Republican presidential candidate Mitt Romney
“The S&P downgrade blemishes our free Republic’s revolutionary experiment in liberty and self-government; consequently, it heartens tyrants and terrorists... President Obama is inept when it comes to creating the conditions or job creation and economic growth." ~ Republican presidential candidate Tim Pawlenty
“I guess President Obama is left to cling to the “hope” that a mathematical error caused this. Is that the ‘hope’ the president was talking about?” ~ Republican presidential candidate Rick Santorum
"...the degree to which he’s (Obama) destroyed the United States is not only unprecedented, but is the very opposite of 'getting it done.'" ~ Republican presidential candidate Newt Gingrich
"...this is because the Obama Administration and Congressional Democrats never once demonstrated a willingness to propose its own ideas for meaningful spending cuts, something credit agencies signaled were necessary to redeem America’s financial standing in the world... Such a rating is unfitting of the greatest and most prosperous nation the world has ever known. And such a weak leader is, as well." ~ Republican presidential candidate Herman Cain
Republican presidential candidates Jon Huntsman and Ron Paul both released statements about the downgrade and neither of them mentioned President Obama (they made a pitch why they would be better for our country and mentioned we need new leadership).
"We must do better to make clear our nation's will, capacity and commitment to work together to tackle our major fiscal and economic challenges." ~ Press Release from The White House
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