Bachmann Knocks Obama on Debt Downgrade

America's Standard & Poor's credit-rating downgrade leads to political finger-pointing.

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It should come as no surprise that elected officials are lining up to blame the Obama administration for Standard & Poor's downgrade of the U.S. government's debt rating for the first time.

Minnesota Republican Michele Bachmann was among the first of the finger-pointers. "She called for Treasury Secretary Timothy Geithner's resignation, while House Speaker John Boehner (R-Ohio) said Democrats 'who run Washington remain unwilling to make the tough choices required to put America on solid ground,' " according to

"President Obama has destroyed the credit rating of the United States through his failed economic policies and his inability to control government spending by raising the debt ceiling," said Bachmann, Minnesota Republican and GOP poll-leading candidate for her party's presidential nomination in 2012.

"President Obama is destroying the foundations of the U.S. economy one beam at a time," she said. "I call on the president to seek the immediate resignation of Treasury Secretary Timothy Geithner."

If that is not enough, the Associated Press is reporting that China, the nation's largest debt holder, has demanded that America tighten its belt and confront its "addiction to debts" in the wake of the downgrade.

How about less finger-pointing and more cooperation -- and plans for job creation?

Read more at NPR.

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