One Pagers

On the Brink of the Tea Party Recession

August 06, 2011 11:45 am ET

Citing "political brinkmanship," Standard & Poor's downgraded the United States' credit rating last night for the first time in history. 


Reckless Republican brinkmanship has brought us to the brink of a Tea Party recession.

Connect: We've all had enough of reckless political brinkmanship. It's not surprising even Standard and Poor's has, too. 

Define: Republicans in Congress brought us to the brink of default by threatening not to pay America's bills -- all while refusing to raise a dime more in taxes from millionaire CEOs.

Illustrate: This downgrade could cost us all tens of billions of dollars in higher interest charges. This is the direct consequence of Republicans in Congress threatening us with economic disaster.

Expose: This is what happens when politicians want the President to fail more than they want ordinary Americans to succeed.

Offer solutions: We're better than this. We can live up to our values of putting our country first -- and we can start right now by getting rid of the massive tax giveaways for millionaires that got us into this mess and putting our people back to work.


"This downgrade happened because the debt deal didn't go far enough -- we need to cut more spending."

  • Republicans in Congress threatened to stop paying our nation's bills, and say they plan to do it again and again. S&P pointed directly to "political brinkmanship" in explaining their downgrade. 
  • We need to rebalance our books, but cutting more American jobs will hurt us, not help us. S&P repeatedly cited Republicans' unwillingness to even consider raising taxes on the richest Americans -- we need to get rid of tax breaks for millionaires and big corporations. 
  • Washington Republicans continue to refuse to give up tax handouts to millionaire CEOs, corporate jet owners and oil companies, because that is who funds their campaigns. 

"This downgrade is Obama's fault."

  • Washington Republicans brought us to the brink of default by threatening not to pay our nation's bills. S&P pointed directly to "political brinkmanship" in explaining their downgrade.
  • President Obama inherited an economy reeling from the massive economic crash that ended Bush's term. Obama's quick action kept unemployment from shooting up to 12% or higher. We need to do more if we want to turn things around.
  • The best way to reduce the deficit is to put Americans back to work. That should be our top priority, but Republicans in Congress keep voting to lay off millions of Americans.



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Posted in - Economy

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