Durbin: Debt rating should spur bipartisan action
Illinois Sen. Dick Durbin says he's never seen so much rancor in Washington but believes the downgrade of the nation's debt rating may be the jolt needed to spur bipartisan cooperation.
Durbin spoke to reporters Monday after addressing the City Club of Chicago. He says the rating downgrade by Standard & Poors appears to have been influenced more by the discord in Congress during debate over the debt ceiling and deficit reduction than it was by economics.
But he says the downgrade is a "good challenge" for Congress to deal with the nation's economic issues "in an honest way."
He says he's trying to focus on cooperation rather than blame, and believes more can be done to reduce the debt — including cutting Medicare costs and changing some tax deductions.