More than half of House Democrats are seizing on news that Standard and Poor’s could downgrade the United States’ bond rating to make the argument that Republicans need to raise the debt limit without tying it to additional spending restraint.

“America pays its bills,” said Rep. Peter Welch, D-Vt., who got 114 Democratic House members to sign a letter demanding a “clean extension” of the debt ceiling. “I hope Majority Leader Cantor and those in Congress seizing upon debt ceiling pressure as a ‘leverage opportunity’ are listening to the markets today and thinking twice about their risky strategy.”