A reminder form Jeff G.

John Chambers of S&P noted that Cut Cap and Balance was the only proposal that, had it become law, would have avoided the HISTORIC! credit downgrade.

The Democrat-led Senate refused to vote on (and the President threatened to veto) CC&B after it passed the House in a bipartisan vote — a failure to compromise, in that CC&B agreed to raise the debt ceiling, as the Democrats were demanding, in exchange for taking serious measures to address debt and deficit, including a plan for a systemic fix, which Republicans were demanding.

This despite 20+ Democrats having campaigned on support for a balanced budget.



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