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Credit Downgrade Blame Game

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    D.C. on recess shortly after US Credit rating downgrade.

  • Duration 5:02
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I think yeah you're right there isn't a budget watching -- fortunately that's probably -- has more to do the Tea Party than anything else thought you know this is definitely the Tea Party downgrade.

There there are unwilling to say that -- -- -- -- over the weekend why do you say that sure sure sure -- let me tell you why because the president don't -- the equipment the key is here we have to informant -- we have to reform entitlements.

The president said let the former let's reform entitlement to the same time let's find ways to increase revenues and because of this pledge to not raise taxes.

The Tea Party has stood in the way of of having a comrade honest conversation about revenue and in Washington sadly.

-- the you know then we're not even talking about raising tackle we're talking about here is getting rid of the loopholes for millionaires and billionaires for corporate jet owners -- big oil companies and rolling back that the bush tax will top 1%.

A version of the richest Americans and seven the Tea Party has stood in the way.

Albeit of this and that's the reason for the downgrade BS and as for the reason for the downgrade.

We'll be isn't He said that they wanted more revenue.

Comment at this time it was not out of the realm of what President Obama wanted.

Isn't this true traced to not add to.

Taxes right now to not take away those tax cuts that will probably be eliminated at some -- and so.

Isn't everyone a little bit to blame here can't you really say that this has been coming for a while.

Well I think would.

You know -- One it was happening John Boehner and the president.

Few weeks ago had a big deal on the table.

That you know.

This speaker -- -- He couldn't sell it to his caucus and try to you know that was.

We have a lot of freshman Republican and a lot of hard core.

Really hard core fiscal conservatives not just fiscal conservatives I mean I think fiscal conservatives that they are not willing to bend and see the bigger picture.

And that upsets me hazard as.

As a fiscal conservative myself.

You know he's still needs some sort of revenues on the table you can't just cut cut cut.

You have to have a bigger and bigger balance and down.

You know it and fortunately the Tea Party held the process hostage.

So Richard where do we go from here.

I mean let's face it everyone in Washington for people who are with us and I will be checking to chats I hope you let me know what you're feeling today especially after the markets open.

Everyone in Washington is on.

A monthlong break.

I mean I hope our homework game I did have to congressman and I talked to this we can He tell me they are home working.

They're meeting with their constituents but in the meantime our future hangs in the balance doesn't it.

You're completely right Jamie and you know speaker Boehner should not have gobbled up for the August recess there's work to be done in Washington the president has remained in Washington.

And that and Harry -- even fatal Washington for an extra week to get work done in the -- -- John Boehner said He was -- -- allow com -- you know put put his members on a month recess waited for word and he's the the president had all sorts of campaign trips lined up over the next over the next -- is working really I mean true but the president not on -- -- that's clear.

You know at this point I could see that there probably communicating committees -- caucuses may be talking we they could Skype they can do all kinds of virtual conferencing but they won't have any votes.

I can just imagine going into my -- today and say you know what I'm thinking little of the September that's the month that I'd like to be on recess -- -- apply.

That's not gonna side well at all and it's not citing a well of all the the American people we saw -- recent polls show that.

The congressional pressure congressional approval rating -- that 80% and for those eight people that approve with congress opposed to -- questionable as well.

All we know they're just they showed a lack of leadership here are on the congressional side of of Washington to -- that's out of Pennsylvania Avenue to get something done for the American people.

-- everybody it'll start job there Richard what do you think will happen 2012 it's not that far away to start all -- all I think you're right I think there's going to be a lot of Republicans as well a lot of Democrats are gonna have -- really tough races because I think that the American people are sick and tired of being sick and tired.

All of them and there's going to be people are gonna definitely have to answer I think -- 8080 new freshman for the Tea Party they're gonna have.

To answer to the American people as well because -- stood in Washington and held the debt ceiling and held our economy hostage.

All while they you know try to get their pledge to not raise revenues so that is definitely -- to be.

-- of a lot of a lot of you know people being pushed out of office in in November I don't think that will affect the president very much because I think the president.

That's come out of being a strong lead on the debt ceiling fully disclosed to the America He spoke to the American people want to know.

Limited sort of ability to.

Raise the debt ceiling I've heard a lot of things said about the -- blank check on the -- -- and I have not heard strong leader I mean I in fact even most people on his own party have.

Complain that He wasn't more out front.

More forceful with the plan you know his so called leadership from behind just it didn't it didn't cut it in this --

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