Columbus – Republican Party Chairman Kevin DeWine released the following statement in response to President Obama’s comments on America’s debt rating downgrade:

“President Obama and Democrats’ spending addiction has driven our national debt to historic proportions, maxed out our national credit card and has now led to the Democrat Downgrade of our country’s AAA credit rating.  The Democrat Downgrade is a telling reminder of President Obama’s shocking lack of leadership and unwillingness to reign in out-of-control spending taxpayers cannot afford,” Chairman DeWine said. 

“Given the economic realities facing Ohio job creators and families, it’s clear that 2012 will be a referendum on the failed job policies outlined by President Obama and his left-hand man, Sherrod Brown.”

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Background Information:

Democrats describe a White House which has been aloof on the debt crisis

“Political thermonuclear explosion.”  “‘Forget about the economic consequences, which could be very bad, this is a political thermonuclear explosion that probably just wiped out President Obama's re-elect,’ fretted one senior Democratic official. ‘The worst part is, if this White House showed a gram of leadership on the debt crisis we could have avoided this historic embarrassment.’”  (Jonathan Allen, “S&P spurs blame game,” Politico, 8/6/11)

“The numbers add up to defeat.”  “Privately, however, Obama’s team is concerned about the factors beyond its control, talking of an imminent need to retool their economic message and strategy heading into 2012. Absent the president’s ability to defy political gravity, one Obama adviser conceded, ‘The numbers add up to defeat.’”  (Jim VandeHei and Mike Allen, “Obama’s big drags,” Politico, 8/4/11)

“The president has been invisible.”  MSNBC’s Joe Scarborough: “[D]emocrats all saying the same thing. And that is this president has been invisible. He is not a leader. They said this all behind closed doors. Democratic leaders, Democratic rank and file – in fact, 40-50 of the most powerful Democrats on the Hill, I will just stop right there. … The president has vanished. ‘He has left us here alone again like he did with healthcare. Where is he?’ Now they didn’t call him a loser but they sure as hell didn’t call him a leader.” (MSNBC’s “Morning Joe,” 7/29/11)

S&P downgrade “damaging.”  “The real reason for White House fury at S&P is that it realizes how symbolically damaging this downgrade is to President Obama's economic record. Democrats can rail all they want about the tea party, but Republicans have controlled the House for a mere seven months.” (Editorial, “America Gets Downgraded,” Wall Street Journal, 8/8/11)

President Obama has become “the undisputed debt king of the last five presidents” 

Politifact claims Obama is the “debt king.”  “So by this measurement -- potentially a more important one -- Obama is the undisputed debt king of the last five presidents, rather than the guy who added a piddling amount to the debt, as Pelosi’s chart suggested.” (“Nancy Pelosi Post Questionable Chart On Debt Accumulation By Barack Obama, Predecessors,” Politifact, 5/19/11)

Since President Obama took office, the national debt has increased by $3.9 trillion (up 37%). (Department Of The Treasury, "The Debt To The Penny And Who Holds It," TreasuryDirect.gov, Accessed 8/7/11)

By 2012 Obama will have added “$22,500 in new debt for every man, woman and child in the nation.” “By the time the next election rolls around, the government will have taken on almost $7 trillion in debt under Obama. It’s hard to explain away a number so big. Republicans will find clever ways to make that number more digestible, including handy stats such as reducing that amount to $22,500 in new debt for every man, woman and child in the nation — enough to pay for a new Toyota Corolla for each of them.” (Jim VandeHei and Mike Allen, “President Obama’s Big Drags,” Politico, 8/4/11)