Reacting to the downgrade

I expected this to happen. With all of the back and forth surrounding the debt ceiling, this was bound to happen. Our Congress was successful at making a mountain out of a mole hill. The blame for this downgrade is the same it would have been for the default: ALL OF CONGRESS!!! But of the course, the GOP hopefuls will make this all about President Obama. I would expect nothing less from them.

Mitt Romney and Jon Huntsman are the first candidates to weigh in on the S&P's downgrade of the U.S. credit rating, an event that as Ben points out has mostly symbolic instead of specific policy meaning, and one that will be heavily infused with a dose of blame in various directions.

How the circumstances from that blame play out is unclear, given that it will be spread around quite a bit.

But Romney and Huntsman dove deep, immediately and with sharp rhetorical flourishes, in on the issue that voters will yoke to the impact the economy has had on their own lives.

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.”

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