1. Response

    White House Blames Downgrade on Debt Deal

    US President Barack Obama makes a statement to the press in the Rose Garden of the White House in Washington, DC, on August 2, 2011. The US Senate on Tuesday approved legislation to avert a disastrous debt default and cut trillions in government spending, sending the contentious bill to President Barack Obama to sign into law. Lawmakers voted 74-26 to pass the measure -- which cleared the House of Representatives by an overwhelming 269-161 margin a day earlier -- with just hours to spare before a midnight (0400 Wednesday) deadline. AFP Photo/Jewel Samad (Photo credit should read JEWEL SAMAD/AFP/Getty Images)

    Jewel Samad / AFP-Getty Images

    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.

    Read it at Agence France-Presse