Senators Point Fingers, Then Say Cooperation Needed After S&P Downgrade

August 7, 2011 - 9:43 AM

WASHINGTON (AP) — Two senators and former presidential candidates say Standard & Poor's decision to downgrade the U.S. credit rating speaks to the need for more bipartisan compromise — but they also say the blame lay with the other party.

John Kerry was the Democratic nominee for president in 2004, and John McCain was the Republican nominee in 2008.

Appearing Sunday on NBC's "Meet the Press," Kerry called S&P's decision a "tea party downgrade." The Massachusetts Democrat says he believes that tea party supporters in the House are holding up progress.

McCain says he too would like to see more cooperation, but the Arizona Republican says President Barack Obama is at fault. McCain says the president failed to lead and did not present a clear plan during the debt-ceiling debate.