Statement on Credit Rating Downgrade from Standard & Poor's

Statement

U.S. Congressman Sean Duffy (WI-07), a Member of the House Committee on Financial Services and the Joint Economic Committee, today released the following statement regarding the announcement from Standard & Poor's over the weekend that they were downgrading the country's credit rating to AA+.

Statement from Congressman Duffy:

"Since neither political party is blameless in this mess, pointing fingers at one another serves little purpose.

"Still, it's hard to deny that the spending policies of the past few years have done anything but accelerate problems that already existed. Unemployment, massive debt, increased regulations, and new government mandates like the health care law create an environment of economic uncertainty that greatly hinders private sector job creation.

"I hope this downgrade serves as a wake-up call to all of us entrusted as stewards of the people's money. We are staring at a predictable economic crisis that can be avoided. We know that we can't spend this nation further and further into debt without serious consequences. No more waiting. No more speeches. Let's take action before it truly is too late."

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