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Republicans Gear Up for Debt Plan Fight With New Credit Warning
Top Republicans are seizing today’s stark warning from Standard & Poor’s on U.S. long-term credit worthiness. Here are some of the highlights:

Top Republicans are seizing today’s stark warning from Standard & Poor’s on U.S. long-term credit worthiness. Here are some of the highlights:
 
House Speaker John Boehner (R-OH):
“On the same day the Wall Street Journal  reported Standard & Poor’s “cut its outlook on the U.S. to negative” because “the path from large budget budget deficits and rising government debt remains unclear,” President Obama is out pitching his idea of a “balanced” approach to reducing America’s job-crushing debt: more spending, more taxing, and more borrowing …” www.speaker.gov/Blog/?postid=237518
 
House Major Leader Eric Cantor’s (R-VA):
“Today’s announcement makes clear that the debt limit increase proposed by the Obama administration must be accompanied by meaningful fiscal reforms that immediately reduce federal spending and stop our nation from digging itself further into debt,” Cantor said. “For decades, Washington has blindly increased the debt limit while doing little to stop spending money that it doesn’t have, a dangerous pattern that must end.”
www.majorityleader.gov/blog/

House Budget Chairman Paul Ryan (R-Wis.) issued the following statement:
"We face the most predictable economic crisis in our history -- a crisis driven by the explosive growth of government spending and debt. House Republicans took action last week to chart a new course by passing a budget that lifts our crushing burden of debt and puts our economy on the path to prosperity. By contrast, the President's budget locks in Washington's recent spending spree, adds $13 trillion to the debt over the next decade, and accelerates our nation toward a fiscal crisis. The failure to advance solutions threatens not only the livelihoods of future generations, but also the economic security of American families today."

 
Posted by Marti on 4/18/2011 2:56:47 PM
Filed under: fights, republicans, S&P, budget


 
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