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Public Statements

Statement on S&P Downgrade of U.S. Credit Rating

Statement

By:
Date:
Location: Washington, DC

Congressman Marsha Blackburn (TN-7) today issued the following statement on the Standard & Poor's decision to downgrade the credit rating of the United States:

"This action by the S&P should send a strong message to President Obama and Washington Democrats that it is time to stop spending money we don't have and get serious about getting our fiscal house in order. This problem did not happen over night, and I have offered common sense solutions every year since I have been in Congress with my proposals to cut spending across-the-board. We dodged a bullet by passing a debt limit bill with the first ever spending cuts and caps attached to it, but now we've been hit in the head with an anvil. The Obama Administration must get on board with Republican efforts to cut up the credit cards and put our economy back on the path to prosperity. The first step necessary in this process is for Treasury Secretary Tim Geithner to resign immediately. It's time for new fiscal leadership in Washington. Americans have had enough of the same old bad ideas that got us into this situation in the first place."


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