S&P Sounds the Spending Alarm

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By Phil Kerpen

The S&P downgrade this weekend confirms the obvious — we need to cut a lot more spending.

The best, most credible plan to solve both our short- and long-term fiscal challenges is the “Cut, Cap, and Balance” plan, which is supported by the overwhelming majority of conservative, free-market, and tea-party groups. That makes it especially strange to see so many on the left blaming the tea parties for the downgrade; tea parties wanted the $4 trillion in deficit reduction S&P called for, and a lot more. MoveOn.org — the most vocal proponent of the “tea-party downgrade” smear — was urging Congress to authorize more debt without any deficit reduction right up to the August 2 deadline.

Read the rest at National Review.

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