|
|
"A collaborative political resource." |
Rep. Issa: U.S. Credit Rating “Should Be Downgraded”
|
| Parent(s) |
Candidate
-
|
| Contributor | Jason |
| Last Edited | Jason Jul 26, 2011 01:42am |
| Category | Statement |
| News Date | Jul 25, 2011 01:30pm |
| Description | Representative Darrell Issa (R-CA) spoke with FOX Business Network about the debt crisis and the possibility of Moody’s (MCO) downgrading the United States credit rating. On the debt crisis, Issa said, “it’s more like a garbage strike in New York” because it’s “a self-inflicted wound by your government.” He also talked about the possible Moody’s downgrade, saying, “until we stop spending more, we should be downgraded.” Excerpts from the interview can be found below, courtesy of Fox Business Network.
On the debt crisis:
“It’s more like a garbage strike in New York, but the similarity is this: this is a self-inflicted wound by your government. President Obama has said he won’t sign a short-term increase. The fact is he signed a funding through September months ago, so the truth is we don’t have to have an August 2 deadline. We’ve actually agreed to what the funding is for the government through the end of September.”
On spending cuts vs. tax increases:
“The big question here in Washington, at least as one Republican is, are we serious about cutting spending this year? There are all kinds of pejoratives, but it’s just crap, absolute crap to think that promises over 10 years mean anything. The only thing the American people can count on is have we agreed to spend less money this year period and that’s a negotiation that’s going on. We would like to have spending cuts this year and quite frankly no tax increases. Tax increases always happen and spending usually doesn’t.”
On the possibility of Moody’s downgrading the US credit rating:
“If we can’t get rid of a $1.4, $1.6 trillion deficit year after year, then they should. The reality is we’re collecting virtually as much money as a percentage of the economy here in Washington as we ever did. We’re simply spending, 30, 40, 50 percent more than we should. Until we stop spending more, we should be downgraded if we can’t make that change. |
| Article | Read Article |
|
|
