Sen. John Kerry on Sunday laid the blame for the recent downgrade of the nation’s credit rating at the feet of conservative House Republicans.
“I believe this is, without question, the tea party downgrade,” Mr. Kerry, Massachusetts Democrat, said on NBC’s “Meet the Press.”
Standard & Poor’s rating agency on Friday dropped the U.S. credit rating from AAA to “AA+, questioning the ability of leaders in Washington to deal seriously with the nation’s debt crisis.
The Obama administration’s debt-ceiling proposal, which included more spending cuts than the measure signed into law last week but also contained controversial revenue increases, fell flat after stiff opposition from House Republicans, but Mr. Kerry said that debate is not yet over.
“I think this is one of the most telling, important moments in our country’s history … this poses a set of choices,” he said, referring to the 2012 elections, when voters will decide between the Obama administration’s approach or the path preferred by the GOP-led House.