S&P Downgrade Stark Reminder We Must Get Our Fiscal House in Order

Statement

Today Rep. Todd Rokita responded to news that Standard & Poor's lowered the United States' long-term credit rating from AAA to AA+:

"Last night's announcement by Standard and Poor's is the starkest reminder yet that we must get our fiscal house in order and put our nation back on a fiscally sustainable trajectory. The debt ceiling increase passed by Congress and signed by President Obama failed to do that."

The choices may be hard, but the way forward is clear. We cannot continue to spend money we don't have. The time has come for a balanced budget amendment to the Constitution.

Sending a balanced budget amendment to the states will give the American people a vote on their future and the opportunity to force politicians to stop borrowing from China and stealing from our children and grandchildren."

Rokita is the co-author of a balanced budget amendment to the Constitution.

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