White House adviser blames tea party for downgrade
WASHINGTON - August 8, 2011 (WPVI) -- 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.
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.
stock market, new york stock exchange, standard & poor's, tea party, inside politics
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