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Congressman Meehan Issues Statement on S&P Downgrade

Saturday August 06, 2011

Springfield, PA – Congressman Patrick Meehan (PA-07), today issued the following statement regarding Standard and Poor’s announcement that they have downgraded the credit rating of the United States to AA+:

“As a result of many years of runaway spending and trillion dollar deficits, the United States lost its AAA credit rating – a credit rating we’ve held since 1917. It is my hope that this will serve as a wake-up call to those in Washington that seem to not realize the magnitude of our country’s dire financial situation.

“Over the last several months, I have worked together with my colleagues in the House to put the brakes on federal spending and enact serious, substantive reforms to the way the federal government spends taxpayer dollars. Although after decades of spending, we cannot reverse our situation overnight. More work must be done to address our long-term debt problem and put an end to this job-destroying economic uncertainty.”

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