Credit Rating Agency’s Outlook
Highlights Needs for Bipartisan Debt Reduction Plan

Washington, DC – Rep. Cathy McMorris Rodgers (R-WA), Vice Chair of the House Republican Conference, released the following statement today after the Moody’s credit rating agency warned that the U.S. government’s credit rating could be downgraded.

“One day after President Obama met with House Republicans and pledged to work with us in a bipartisan fashion to get our fiscal house in order, Moody’s warning is fresh reminder that federal spending and borrowing are out-of-control and we are rapidly nearing a tipping point that could have devastating effects on our economy.  Raising the debt ceiling without significant cuts in government spending and fundamental budget reform would be the height of irresponsibility.  Not only would it increase the uncertainty that job creators are currently experiencing, it would also create an even bigger debt crisis for the next generation.  For the sake of today’s economy and the future of the American Dream, we need a bold, comprehensive plan to get our debt under control, and we need it urgently.”

After yesterday’s White House meeting, Rep. McMorris Rodgers joined other House Republican leaders at a press conference.  To watch her remarks, click here.

Video of the Congresswoman’s remarks was included in the Associated Press’ article, GOP Lawmakers Press Obama on Specific Budget Cuts.  To watch that video – which also contains parts of Speaker John Boehner’s statement – click here.