Sen. Jim DeMint says blaming the tea party for S&P’s downgrading the nation’s credit rating is “pitiful” and the movement’s demand for a balanced budget is in line with the thinking of most Americans. The South Carolina Republican also said on Fox News that the debt-ceiling deal is a prescription for financial disaster.
“It seems, Mark, that everyone who disagrees with the president is a member of the tea party now,” DeMint told columnist Mark Steyn, who substituted for Sean Hannity on his show Monday. “Over 70 percent of Americans think we need to balance our budget — that’s no small tea party group — that is a lot of common sense Americans who understand that we can’t keep spending more than we are bringing in.
“So, this is a bipartisan problem — but the solution that they came up with has made the problem even worse — it locks us in to another $7 [trillion] to $10 trillion in debt — and there’s not enough credit in the whole world for us to borrow that much money,” the tea party favorite said. “So, we are looking sometime over the next few months — or maybe few years, if we’re lucky — we are going to come to the point where there is a real debt limit. Where we can’t borrow any more money — and that is going to be a serious time.
“So, we are talking about serious things right now — and the president is trying to point fingers everywhere he can look and say that’s a tea party guy behind that bush,” DeMint said.” I think this is really pitiful.”
Steyn noted that markets tanking around the world shows strong reactions to America’s financial quagmire and worries about the country, which is supposed to be the most financially stable, drowning in debt.
“The problem we have in America — and you pointed this out — is we’re not just another country, we are that center pole of the world’s economy,” DeMint said. “And when people start losing confidence in our dollar, our ability to pay our bills, it sends shockwaves throughout the world.
“That’s what we are starting to see today — the only way to solve this is to get control of the spending — and we had several plans in Congress to do this,” he said. “I mean, we passed a budget . . . that would have balanced our budget over 10 years — that’s what the market needs to see — not that we get control of it this year or next year, but that we are committed to bring our budget into balance.”
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