White House Blames Downgrade on Debt Deal

Responding to Standard & Poor's downgrade of the United States' credit rating, White House Press Secretary Jay Carney issued a statement calling for Republicans and Democrats to unite to fix the economy. He called the debt deal a “step in the right direction,” but said the debate “took too long and was at times too divisive.” Carney also pointed out that President Obama called for a “grand bargain” that would have reduced the deficit by $4 trillion, but that Republican leaders foundered. Standard & Poor's cited both the small size of the debt deal and the partisan deadlock around it as reasons for the downgrade.