Failure to Address Debt Crisis Could Lead to Another Downgrade

Statement

U.S. Senator Kelly Ayotte (R-NH), a member of the Senate Budget Committee, released this statement following today's announcement that Fitch Ratings has revised its outlook on the U.S. government's debt rating from stable to negative, citing declining confidence that Congress and the President will agree on a plan to reduce the budget deficit by at least $1.2 trillion. Fitch also warned that it could downgrade the U.S.'s AAA rating if Congress fails to act.

"Coming just a few months after S&P downgraded our credit rating, Fitch's announcement is yet another warning sign that we cannot continue to delay addressing our crippling debt, which recently soared past $15 trillion. One of the reasons I opposed the recent deal to raise the debt ceiling was because it left us vulnerable to the threat of a downgrade. The President and Congress must end business as usual spending in Washington and find the fortitude to take on the entire budget and deliver the necessary savings just to stabilize the debt."

Source